Alberta West News: Intergenerational Hostility

Sunday, April 27, 2025

Intergenerational Hostility

Intergenerational hostility over home ownership has emerged as a significant social and economic issue, driven by disparities in access to housing across generations. This tension, often framed as a conflict between younger generations like Millennials and Gen Z and older generations like Baby Boomers, stems from systemic challenges in the housing market, differing life stages, and perceptions of fairness in wealth distribution.

Economic and Market Dynamics Fueling Tension

A primary driver of hostility is the stark contrast in housing affordability between generations. Younger generations, particularly Millennials (born 1981-1996) and Gen Z (born 1997-2012), face unprecedented barriers to home ownership due to skyrocketing housing costs outpacing income growth. In the U.S., nearly half of 18- to 29-year-olds now live with their parents, a level not seen since the Great Depression, partly due to unaffordable housing, higher unemployment rates, and delayed life milestones like marriage7. In Canada, the housing crisis is described as a deeply personal and emotional struggle for young people, delaying life goals and fostering frustration with government inaction8.

Conversely, Baby Boomers (born 1946-1964), who often purchased homes during more favorable economic conditions, hold significant housing wealth. Many Boomers are staying in their homes longer, with 55% having no intention to move and nearly 70% living in homes over 30 years old without plans for major renovations6. This reluctance to downsize or sell contributes to supply shortages, as Millennials enter the market but find fewer available homes, exacerbating price pressures2. In the U.S., a Legal & General study highlights a “quasi-war” over housing, with Millennials blaming older generations for their home ownership struggles while simultaneously relying on them for financial assistance3.

Perceptions of Inequity and Generational Blame

The perception of generational inequity further fuels hostility. Younger generations often view older ones as having benefited from policies and economic conditions that are no longer available, such as lower home prices relative to income and favorable lending terms. A Canadian report by Generation Squeeze notes that when home prices rise faster than incomes, affordability erodes, and the idea that “a good home should be in reach for what hard work can earn” feels unattainable for younger cohorts4. This sentiment is echoed in the U.S., where Millennials express a “deeply-held grudge” against Boomers for thwarting their home-buying plans through prolonged ownership of housing stock3.

Older generations, however, may not see themselves as the problem. Many Boomers face their own challenges, such as aging-in-place hurdles, and may view their decision to remain in their homes as a personal choice rather than a systemic issue6. This disconnect in perspectives creates a narrative of blame, with younger generations feeling locked out of wealth-building opportunities through housing equity-a key mechanism for financial security that older generations accessed more readily7.

Systemic Issues Over Personal Animosity

While intergenerational hostility is palpable, some argue it is misguided and counterproductive. The real issues are systemic, rooted in policies and market dynamics rather than individual generational behavior. For instance, in Australia, discussions around an aging population often focus on dependency ratios, but the underlying challenge lies in systemic failures to address housing supply and affordability across generations5. Similarly, in Canada, proposed solutions like scaling up affordable rental housing, adjusting monetary policies to account for housing inflation, and taxing housing inequity aim to address structural problems rather than pitting generations against each other4.

Potential for Intergenerational Tensions to Escalate

As demographic shifts continue, with an aging population and growing numbers of younger home seekers, tensions may intensify. In the U.S., the housing market is described as a “generational tug-of-war,” with Boomers holding onto aging properties while Millennials face the prospect of inheriting or purchasing homes needing significant upgrades6. In Canada, the housing crisis is already shaping political engagement among younger generations, who may shift voting patterns toward candidates prioritizing affordability, potentially deepening intergenerational divides in policy debates8. Research also warns of broader societal implications, suggesting that a growing older population and the redistribution of resources to accommodate it could stoke “intergenerational fires,” particularly among younger people feeling disadvantaged1.

Conclusion

Intergenerational hostility over home ownership reflects deep-seated economic disparities, differing generational experiences, and systemic housing market challenges. While younger generations struggle with affordability and delayed milestones, older generations hold onto valuable housing stock, often unintentionally tightening supply. However, focusing on generational blame overlooks the structural issues at play, such as policy incentives that perpetuate high home values and insufficient affordable housing development. Addressing these root causes through targeted solutions could mitigate tensions and foster a more equitable housing landscape for all generations.

Citations:

Answer from Perplexity: pplx.ai/share

Alberta West News

Welcome To Alberta West Online News

Blog Archive

About Me