Many Canadians may scoff at the idea of arranged marriages – all the while actively endorsing a culture of arranged mortgages for their own children.
“I noticed that my spouse and I had very different approaches when it came to making decisions together, such as renting or buying a house,” said Gizem Turna Cebeci, an assistant professor at Fenerbahçe University in Turkey. “Then I realized that our parents also differ in a very similar way. I was curious about when these behaviours were formed.”
Consider the current state of our housing market. Skyrocketing prices have pushed homeownership out of reach for many young Canadians, creating a stark generational divide. Those who benefited from more affordable housing in the past may struggle to understand why their children can’t simply follow in their footsteps.
But here’s the uncomfortable truth we need to confront: The path to financial security that worked for previous generations may no longer be viable. An entire cohort of Canadians may need to “de-bias” themselves from the singular focus on homeownership at any cost. The current housing crisis is robbing many of their personal agency. Young Canadians are delaying major life decisions – having children, leaving unfulfilling relationships, pursuing career changes – all because of the financial handcuffs imposed by housing unaffordability.
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