从加国房市变迁看两代人的财富差距（观点）

1994年，我作为留学生刚到加拿大不久，我和丈夫做了一个对我们财务未来产生深远影响的决定——我们在多伦多市中心购买了一套公寓。当时的房价与现在的市场价值相比简直微不足道，而且没有复杂的房贷压力测试等政策限制。虽然当时我们没有稳定的工作，仅靠积蓄支付了首付款，但这一看似大胆且冒险的决定最终证明是我们最明智的财务选择。它不仅促使我们找到稳定的工作，也成为我们踏上房地产阶梯、逐步积累财富的关键起点。

In 1994, shortly after my arrival in Canada as a visa student, my husband and I made a decision that would significantly shape our financial future—we purchased a downtown condo unit at a price that is now just a fraction of today’s market value. At the time, home prices were far more accessible, and there were no mortgage stress tests to complicate the process. Despite having no stable jobs and relying solely on our savings for the down payment, what seemed like a bold and risky choice turned out to be the smartest financial move we could have made. Not only did it motivate us to find stable employment, but it also became the launchpad for climbing the housing ladder, ultimately enabling us to build our wealth.

但这几十年来，尤其是在过去的15年中，加拿大的房价涨幅惊人。从1994年到2024年这三十年间房价上涨了350%，远远超过了收入的涨幅。对于许多加拿大人来说，购房成为越来越难以实现的财务梦，导致年轻人中拥有房屋的比例大幅下降。例如，65-69岁的加拿大人中拥有房屋者占75.6%，而尽管35岁以下的年轻人也非常希望拥有自己的房产，但房产拥有率却仅占30%。

Over the past few decades, particularly in the last 15 years, the Canadian housing market has experienced an extraordinary surge in prices. Home values have appreciated by more than 350% from 1994 to 2024, a pace far exceeding income growth.  Homeownership is increasingly out of reach for many Canadians, especially younger generations. While 75.6% of Canadians aged 65-69 own their homes, only about 30% of those under 35 have managed to do so, despite continued aspirations for homeownership.

房地产成本的上涨使得年轻一代越来越难以进入房市，迫使许多人转向租房市场。由于房价飙升，目前近三分之一的加拿大人选择租房。然而，租房并非意味着财务负担的缓解。由于需求高涨且住房供应有限，租金价格与房产价值一同上涨。在许多城市，租金占据了家庭收入的很大一部分，这使得年轻家庭更难存够首付款，进一步剥夺了他们进入房地产市场的机会。

The rising cost of real estate has made it difficult for younger generations to buy homes, pushing many into the rental market. Nearly one-third of Canadians now rent due to the growing unaffordability of homeownership. Unfortunately, renting offers little financial relief. Rental prices have increased alongside property values, driven by high demand and limited housing supply. In many cities, rental costs consume a significant portion of household income, making it even harder for young families to save for a down payment, further delaying their entry into the housing market.

虽然上辈一代能够在房市利好条件下通过拥有房产而积累财富，但如今的加拿大年轻人面临着截然不同的地产环境。目前许多加国老年人士通过当年的房地产投资而拥有可观的财富。到2023年，65岁及以上的加拿大人的平均净资产约为$130万加元，中位数净资产约为$543,200加元。与之相比，年轻人的财务状况则大相径庭。35岁以下的加拿大人的平均净资产为$336,100加元，中位数净资产仅为$48,800加元。

While previous generations were able to accumulate wealth through homeownership in a more favorable market, today’s younger Canadians are facing drastically different circumstances. Many older Canadians now sit on substantial accumulated wealth. By 2023, the average net worth of Canadians aged 65 and older was about $1.3 million, with a median net worth of approximately $543,200. This stands in stark contrast to the financial reality for younger Canadians. Those under the age of 35 had an average net worth of just $336,100, with a median net worth of only $48,800.

房市变迁造成了两代人之间的财富差异，也使当今的年轻人身处财务逆境。随着这一财富鸿沟的不断扩大，代际财富转移成为逐渐上升的趋势。自2015年以来，首次购房者获得来自父母捐赠款的比例增加了55%，在安省，父母赠与子女购房的平均额高达$128,000加元，而在不列颠哥伦比亚省，这一数字则为$204,000加元。作为房产主的我们也加入了帮助下一代攀登地产阶梯的行列，将我们幸运的从早期房市中积累的部分财务转移给后代。

This generational wealth gap has placed younger families at a significant disadvantage compared to their older counterparts. As these disparities widen, intergenerational wealth transfers have become more common. Since 2015, the proportion of first-time homebuyers receiving financial help from family has increased by 55%, with the average gift amount reaching $128,000 in Ontario and $204,000 in British Columbia. We, too, have joined the ranks of families supporting the next generation in climbing the housing ladder, passing on a portion of the assets we were fortunate enough to build in a much more favorable market.

加国购房状况的变迁导致当今年轻家庭面临的系统性财务困境，也使加国财富积累面临挑战。随着年轻人购房面临越来越大障碍，财富转移在缩小代际财富差距中发挥越来越重要的作用。如果今天的父母不再帮助子女渡过购房难关，社会经济状况分化将进一步扩大，进而加剧代际之间的紧张关系，并进一步动摇加国社会的稳定。

This shift in homeownership access underscores the structural barriers facing today’s young families and highlights the broader challenge of wealth accumulation in Canada. As these obstacles persist, intergenerational wealth transfers will likely play an increasingly critical role in bridging the wealth gap between generations. Without such support, the socioeconomic divide will only deepen, further exacerbating intergenerational tensions and entrenching inequality across Canadian society.