First time home buyers will not be charged GST (5%) when buying a home, as long as the place they’re buying costs less than $1M. This means that people buying a home for the first time will save up to $50k on their purchase.
Edit: Note, GST is mostly only charged when buying newly built homes, so this won’t have any effect for people buying used homes.
I don’t know if the baby boomers dying is going to be a big sudden event. If you look at the population pyramid, many boomers are already gone. The rest are going to trickle out over several decades.
Boomers are ‘46-‘64, the oldest boomers are just now turning 80.
Right, and a lot of boomers never made it to 80. If you look at that population pyramid, the deaths really start once people hit 60, which was 2 decades ago for the first people in the baby boom generation. It looks like roughly 1/3 of the oldest boomers are already gone. The youngest boomers are 60, so about 1/3 of them will die in the next 20 years or so.
It’s not going to be a big, sudden event.