The political bargain we've struck in Canada obliges younger people to sacrifice their standard of living to protect the housing wealth accumulated by homeowners who have come before them. It's time to acknowledge this sacrifice - and to compensate young people for their profound expression of intergenerational solidarity.

We can begin by targeting some savings from fixing Old Age Security to reducing housing, child care, education and other costs for young people.

We can also put a price on housing inequity by adding a modest surtax on homes valued over $1 million. This surtax will apply only to the top 12% of high-value homes – the vast majority of Canadians won’t pay a penny more. But it will help slow down home prices so earnings have a chance to catch up, demonstrating allegiance to the Canadian dream that a good home should be in reach for what hard work can earn.