{"id":10295,"date":"2018-09-11T10:10:15","date_gmt":"2018-09-11T17:10:15","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=10295"},"modified":"2018-09-05T10:51:58","modified_gmt":"2018-09-05T17:51:58","slug":"housing-makes-young-adults-in-toronto-vancouver-miserable","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/09\/housing-makes-young-adults-in-toronto-vancouver-miserable\/","title":{"rendered":"Housing Makes Young Adults in Toronto &#038; Vancouver &#8220;Miserable&#8221;"},"content":{"rendered":"<p style=\"text-align: justify;\">In its recent survey, the Angus Reid Institute found that elevated prices have taken their toll upon millennials in the nation\u2019s hottest markets, with a significant proportion describing their experiences as \u201cuncomfortable\u201d to \u201cmiserable\u201d.<\/p>\n<p style=\"text-align: justify;\">\u201cIt is a progression of pain for both regions, where Vancouver really seems to be settling in, resigned to living with this chronic pain,\u201d Angus Reid executive director Shachi Kurl said last week, as quoted by CBC News.<\/p>\n<p style=\"text-align: justify;\">The study found that in general, younger people tended to look at housing costs and availability more negatively, while older generations leaned towards a positive mindset. Millennials pointed at monthly mortgages and the need to commute far as the main causes of their anxiety.<\/p>\n<p style=\"text-align: justify;\">Almost 75% of Vancouver\u2019s young home owners stated that housing costs have become \u201cunreasonably high\u201d. 20% said that prices need to shrink by 30% or more, and 29% said that a 10% drop would make ownership more feasible.<\/p>\n<p style=\"text-align: justify;\">The market\u2019s young respondents who reported being uncomfortable and miserable are increasingly forced towards renting or living in other arrangements.<\/p>\n<p style=\"text-align: justify;\">\u201cMore than half of the \u2018uncomfortable\u2019 say they are giving serious thought to leave Metro Vancouver, while that number rises to eight-in-ten (81%) among the \u2018miserable,\u2019\u201d Angus Reid stated, as quoted by LowestRates.ca.<\/p>\n<p style=\"text-align: justify;\">Meanwhile, 56% of Toronto respondents said that they are burdened by current prices. 13% added that they would like to see costs fall by 30% or more, and 22% said that a 10% price decline would place home ownership within reach of their budgets.<\/p>\n<p style=\"text-align: justify;\">\u201cDriven primarily by their propensity to use transit more often, and the likelihood of having a commute of one hour or more, the GTA population skews slightly more \u2018miserable\u2019 than Vancouver,\u201d Angus Reid said.<\/p>\n<p><a href=\"https:\/\/www.canadianrealestatemagazine.ca\/news\/housing-makes-young-adults-in-toronto-vancouver-miserable-247460.aspx\" target=\"_blank\" rel=\"noopener\">Housing Makes Young Adults in Toronto &amp; Vancouver &#8220;Miserable&#8221;<\/a> by Ephraim Vecina | Canadian Real Estate<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In its recent survey, the Angus Reid Institute found that elevated prices have taken their toll upon millennials in the nation\u2019s hottest markets, with a significant proportion describing their experiences &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/09\/housing-makes-young-adults-in-toronto-vancouver-miserable\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-10295","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Housing Makes Young Adults in Toronto &amp; Vancouver &quot;Miserable&quot; 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