Most people are now priced out of middle class life. To afford it, we’re working longer and harder—and taking on more debt—than ever before. We’re also more alienated and more nervous about our futures. Read @maxfawcett’s article here: thewalrus.ca/livingrooms-ho… 1/5 #housing
As part of the Living Rooms series, @maxfawcett questions whether the middle class, at least as we’ve come to understand it, will go extinct. Can we redefine a middle class that aligns with the current technological, social, and financial realities?thewalrus.ca/livingrooms-ho… 2/5
Due to the pandemic, over 1 million Canadians have suddenly lost their incomes, making the middle class even more precarious. According to a recent @Ipsos poll, almost a third of Canadians can’t pay their bills without sinking deeper into debt. thewalrus.ca/livingrooms-ho… 3/5
And the worst may still be to come. When government support winds down and the bill for those mortgage deferrals comes due, the pandemic’s full financial impact will be felt. Experts predict a huge wave of insolvencies and bankruptcies. More here: thewalrus.ca/livingrooms-ho… 4/5
@maxfawcett writes: “A new vision of middle-class prosperity begins with distancing ourselves from the definition of prosperity that got so many households into trouble: our addiction to home ownership.” Can the middle class be saved? Read on: thewalrus.ca/livingrooms-ho… 5/5 #housing
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