I Want The Earth (plus 5%)
The sole purpose of this story is to explain the simple maths of reality and the current Banking System – that is – 100 plus NOTHING does NOT equal 105 – and that charging interest on something that is created out of nothing, makes it impossible to repay, giving great power to those who do create money out of nothing – ie the Banks. This story was written by Larry Hannigan in 1971 and uses a fictional character (Fabian) in the narrative.
Money is NOT a commodity, it is a system of
debit-credit bookkeeping – nothing more. Banks create credit. It is a
mistake to suppose that bank credit is created to any extent by the
payment of money into the banks. A loan made by a bank is a clear
addition to the amount of money in the community.
The issue which has swept down the centuries and which will have to be fought sooner or later is the People v. The Banks.
None of our problems will disappear until we correct the creation, supply and circulation of money. Once the money problem is solved, everything else will fall into place.
N.B. seniors staying put in their homes, affecting housing market for new buyers
But Realtor in Saint John says don’t blame the boomers
Jake Palmer, a Realtor in Saint John who has been in the trade for about 15 years, says seniors are increasingly staying longer in their own homes, a recent development has him concerned. But it's not necessarily because they want to.
"There's unfortunately a real trend toward boomer-bashing, where we kind of blame — in my case it's my parents' generation — for holding onto these large homes," Palmer said.
"But in a lot of cases, the options that they have are more limited than just four or five years ago."
Palmer's observation tracks with a study put out by the Canadian Mortgage and Housing Corporation over the winter.
Palmer
says it's important not to blame seniors for staying in their houses
longer because they have few options to downsize in a tight market. (Submitted by Jake Palmer)
Francis Cortellino, a senior economist with CMHC and author of the study, said in an interview with Information Morning Moncton that seniors are waiting later and later to sell their homes.
Only about 20 per cent of people aged 75 to 79 are selling up, with most waiting until they're 85, 90, or even 95 to let go of their property, he said.
"So it takes a long time before all those homes come into the market."
Palmer said the reasons can be attributed to better health trends and more wealth, but it's mostly due to the limited housing market.
"So if you want to sell your home, you want to buy a condo or go back to the rental market. You look at the options — there's not a lot, they're quite expensive … so maybe you're going to stay in your homes for much longer."
And when seniors stay in their homes, that makes it challenging for new buyers to enter the market.
"That's going to create an upward trend on prices in the market because there's not going to be many listings," he said.
Seniors eager to move, but can't
Palmer said while the situation is nationwide, it is especially troubling in Saint John because of a lack of condos and smaller bungalows for seniors to move into.
Even new builds are a struggle.
"I've had some instances where people have bought empty lots of land to build their retirement home on and because the cost of construction's gone up so much in the last few years," Palmer said, "they've nixed those plans."
Data from CMHC's study on seniors shows they are selling later in life. (Housing Market Insight: What do we know about elderly people’s behaviour on the Canadian real estate market?)
In most situations he encounters, Palmer said seniors are eager to move out of larger homes because maintenance is getting to be too much and heating costs are expensive. But with few options to move into, seniors are stuck.
"Right now it's probably one of the biggest logjams that we have in our local market."
But not only are smaller homes and condos hard to find, so are beds in nursing and care homes.
"They're ready to go, and in fact there's a fair bit of motivation and anxiety to get placed somewhere. But in the meantime, they're sitting in homes that I could sell in a week," Palmer said.
Long-term care bed shortage also contributes to problem
Cecile Cassista, executive director of the Coalition for Seniors and Nursing Home Residents' Rights, can't agree more with the need for more nursing home beds.
"It's a very frustrating process I can tell you, there is a waiting list," Cassista said.
Cecile
Cassista, executive director, Coalition for Seniors and Nursing Home
Residents’ Rights, says waitlists at long-term-care homes are also
keeping seniors in their own homes. (Submitted by Cecile Cassista)
As of February, there were 949 New Brunswick seniors waiting for a spot in long-term care, including 422 waiting in hospitals, according to data from Cassista's organization.
She said she wants to see more action from the province so seniors aren't "languishing in hospital beds" or waiting at home when they should be in a long-term care home.
"People would love a place in a nursing home or care home, and it's just not available," Cassista said.
ABOUT THE AUTHOR
With files from Information Morning Moncton
I already put my son's name on the deed and he don't need the money
Nope, I'm quite content where I am, and with the space and freedom I have, and intend to keep it that way.
For a real estate agent (always on the hunt for the big commission) or any government to even think, let alone state, that my generation is responsible for even part of the housing crisis (by not freeing up our homes) is nothing less that absolutely ludicrous.
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