Part 3/8:
While older generations, particularly Baby Boomers, may point to a lack of financial prudence among young people—suggesting the infamous "latte factor" and transient lifestyles—the reality is far more complex. Boomers enjoyed a different economic landscape: affordable education, manageable debt burdens, and housing prices that were not exorbitantly high. The comparison is stark and, indeed, troubling. For many Boomers, the relationship between income and housing was a manageable 2.5 to 3 times one’s salary. However, as of recent years, this ratio has ballooned to 10 times in places like Toronto and Vancouver.