The millennial exodus: Escaping big cities for affordability
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- Опубліковано 13 чер 2024
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In Canada, the housing crisis is driving young Canadians to leave big cities for more affordable regions. With 50% of Canadians in the largest cities wanting to move due to the cost of living and an affordability crisis, Canada is experiencing a shift in the population distribution across the country. Where are Canadians moving to and would you move? #Canada #Housing #livingincanada
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Born and raised in Toronto.. moved out in 2017 to London Ontario at the age of 40. As a lower-middle class income earner (no children / dependents), I could barely afford to live in the city anymore... or rather, I could.. but I lived like a poor person. By leaving Toronto I now could afford a reasonably comfortable lifestyle, despite taking a slight paycut at my new job, because the cost of living (namely housing) here is quite substantially lower than Toronto. I cannot even remotely imagine how a young person in their 20's out of college / university could possibly afford to live in Toronto or other similar big cities unless they lived at home with their parents still... moving out of the big cities seems the only viable way to live a lifestyle anything better than "dirt poor peasant", even if you're making better than minimum wage.
Cost of living in London is increasing steadily, but not drastically.. and I'll just repeat the process in 10+ years again if I have to.
That's interesting to know from someone who has done it, thanks for sharing!
I moved to Northern Ontario from Toronto 14 months ago, I got a better job, I am closer to nature, saved up a lot more money, living with little stress, started to read and work out - I regret nothing about this decision. I am just happier.
northern ontario means which city exactly you moved?
I tried Calgary for two years now moving back to Hamilton. Those who are moving just for housing from Toronto to smaller suburbs of Alberta, they might regret because job opportunities are very less and might not like the lifestyle.Toronto shouldn’t be compared with Calgary, they’re day ans night in comparison.
Vancouver and toronto just made it in the top 10 most UNAFFORDABLE cities in the world
Vancouver #3. Toronto #10.
So the answer is clear don’t move to those cities…..you get what you pay for
Nah... Go there and see how many are living well.
My coworker transferred to Edmonton and bought a 3 bedroom house for less than 400k less traffic and congestion driving to work
Too cold
@@teekbooy4467 I guess you think Toronto is Miami
@@shaq9361 It's no Miama, but its also certainly no Edmonton.. lol. Average winter low for TO is -7. Average winter low for Edmonton is -16.
@@teekbooy4467soyboy
The difference between -7 and -16 Is a good sweater
I live in one of the mid-sized Canadian cities that increasing numbers are migrating to. I believe that the adage of the grass being greener on the other side holds true in this sense. Smaller cities have the same problems behind why growing numbers of Canadians are leaving big metropolises only on a smaller scale. It's only a matter of time before those same issues reach the levels which exacerbated the migration in the first place. Where I live, I have seen overall costs in every area inflate drastically in the last few years in addition to the social and infrastructural decay brought about by current trends. Undoubtedly, many of these smaller cities aren't equipped to handle the influx of the numbers we're seeing housing-wise, job-wise, etc.
I remember the incident that put (for me anyway) Toronto on the infamy map. I never saw the city in quite the same way after what happened to Jane Creba.
personally im ready to be out, anywhere less expensive than the city
Thunder Bay Ontario is a beautiful city! Great university, forest and nature, diverse jobs.
You got my vote, my older overt coke head sis moved back from TO and her nick name is, Even TO doesn't want her!🎉 love from Montreal!❤
I love this channel 🙂👍
Moved to Kitchener with my family last year. Yes there are more affordable places in Canada, but at least it better than Toronto/Mississauga where we used to live, and within commute distance.
2nd citizenships for the win! Do you prefer palm trees or ice deserts?
No matter who is in power housing affordable in big cities will alway be an issue
Canada economy depends on over price real estate lol
This is not a recent issue, you wanna live in the big cities you gonna pay the price it’s not only in Canada it’s like that.
Everyone wants a G wagon with a Hyundai budget its just not gonna happen
Yet, still notices there are more and more people moved in Vancouver as i noticed in public transit and traffic
You forgot about Gen X!
Maybe because I grew up on a farm I think it’s a little crazy that you’re promoting Edmonton as being more laid back and having small town vibes as a bit ridiculous, it’s still a big city. Edmonton is less dense and has more sprawling suburbs than the GVR and GTA so in that sense I can see that argument.
In my mind a city goes from “mid-sized” to “big” somewhere between 300-500k people. >1.5M is huge. London ON is big, Toronto is huge.
A city proper and metro is where this gets a little fuzzy. Vancouver proper has a smaller population than Winnipeg but the GVR is one of Canadas best known metros.
As a result of being more business minded I was initially surprised by the number of people I met when travelling Europe that knew where Montreal was but big Calgary. Montreal is more culturally significant on a global stage. Being the “most European” large city in North America, Circus du Soliel, music and arts festivals, Mind Geek/Pornhub…
I don't want to take away from the challenges that the current generation (me included) faces when it comes to housing costs. The government has done essentially nothing to combat housing affordability. Something that is a counter point is that houses have been getting bigger. Similar to vehicles which are way more efficient than 20-30 years ago, single detached houses have gotten bigger. So the question I have been asking myself is, are house prices adjusted for square footage actually getting more expensive? is the situation as bad as it seems or is it a bit of the "keeping up with the Jones's"? Of course in places like Vancouver and Toronto they are, but outside of those areas, are they? I don't know but it's an interesting question.
It is around 375k to build a new basic 1000 sqft2 bungalow. Not including land. It's probably higher in major cities as municipality add a stupid amount of development charges and fees.
That's because the government has done plenty to enable and exacerbate the crisis.
Hey, I'm a Malaysian who has lived abroad too in places like the UK, US, HK etc (though not as much as you, haha). Anyway, I work in the tech field and am a BI manager, do you think it's easy to just find a job in Canada, or should I be patient and explore opportunities to do a transfer from Thailand (where I currently work) to Canada? Makasi (so much!)
Shout out from Brampton ontario Canada 🇨🇦
I live in Ottawa and nobody talks about Ottawa
Keep it that way.. or prepare for double the traffic. I'm in Gatineau and the traffic is nuts. People spend over an hour in traffic each way to work to go like 15 kilometers
@@desiderataification same here I go work from 11am morning traffic than going home nightpm Mon tue wed Thur, 4 full days work restaurant and it’s not traffic but I don’t like work part time job in 3pm to go home by car cause it’s traffic and my boss understands me and puts me full time work till night
there is no escape. from communists.
Citizenships and permanent residences. Go where you're treated best.
We have kids, it is hard to move even when we work remotely due to the school. But we had it easy, since we are living with our parents. A lot of my friends are living at their parent's basement. Millennials had it hard, but some are lucky to have boomer parents to help putting down the down payment.
It is what it is.
Did boomers have it easy? Maybe. Because they vote, young people do not vote so government policy does not cater much to this group.
That definitely makes things more challenging. I've moved several times (between cities and countries) when I was a kid. While I learned a lot and it was exciting at times, it was also quite stressful. Everyone has a unique situation and has to try to make the very best of it!
Trudeau was a Millennial vote. Go Figure
Funny of Chinese coming to Canada and then complaining... you were never meant to be there in the first place...
Why are you singling out Chinese? There are lots of other people coming in and she is talking inter province moving.
Don't forget your billy boots, if no flood then beware of those crying you a river, and don't let the door hit your butt on the way out! Entitled whiners for sure!
This is what I noticed about many Canadians. They will gasp in horror when they see a listing for a tiny bed beside the balcony in downtown Vancouver for $800. Many will say that's a crappy way to live. For me that listing is a gold mine as I can easily commute to two jobs without needing a car. I can easily save $3K a month and in five years I'll have enough for a downpayment on a $750,000 condo. This system pretty much works for any generation except in the 1930s.
What moron would pay 750k for a condo 😂
Salaries were much lower back in the day. I’m 40, minimum wage in Ontario in the late 80s-early 90s was $4.25/hr. I assure you, we worked are butts off and merged our individual family incomes to get our 35-year mortgage. All these Single-Young people don’t understand … you don’t just “buy” a home, the bank owns your home until you pay off your 35-45-year debt to them. They can legally take it back if you simply miss one monthly payment or property tax (2x a year). Good luck lazy entitled young people who have it easier than any generation before you.
People 40 years old are part of the generation that is going through these difficulties, especially the high price-income ratio of housing. Salaries were much lower but so were house prices.
Except that today a couple with the median household income in Toronto would have to save for 39 years to get the median home, and 50.6 years in Vancouver. And that's assuming that the prices stay the same.
You really don't understand how impossibly expensive things have become, in fact Vancouver is considered the 3rd most impossibly unaffordable city in the world, while Toronto is number 10.
Imagine having to save for the length of a mortgage or more, simply to afford a down payment, then you can see just how hopeless thing have become.
@@josephk87171Buy a condo, it's way cheaper
@@robocop581not when you calculate cost per sq ft. Condos are cheaper because they are small but you have to pay $1k condo fee each month. Is it really that much cheaper?
@@josephk87171I'm a Canadian living in HK, the most unaffordable place on Earth. No problem buying our residence, only had to put down 10%. If you can't put down 10% then you're in the wrong career or you're spending too much.
Devel's Advocate here, personally I just moved from Red Deer to Charlottetown. Take that to mean whatever that might mean to you. It's not the wisest decision imo😅😂
Edit: For those who are curious; The reason it's not a great choice is because everything is generally more expensive and the entire province has less amenities compared to the rest
Yeah, not all smaller cities are more worth it!