this post was submitted on 03 Dec 2023
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Around me all the 55+ condos are dirt cheap and price controlled, while the regular condos and sfh are 2-3x price. So, when the boomers want to downsize they can just sell their that the vigorously fought to keep zoned without density to a millennial for a huge profit and then buy a cheap condo (conveniently dense and conveniently 55+) and live off the rest of the proceeds. It’s as if the boomers get to use their kids future earnings as a piggy bank for their retirement. It’s the same story with offloading the climate change impacts of their gluttonous lifestyle to their kids as well. They really did pull up the ladder.