{"id":12445,"date":"2019-05-16T15:15:19","date_gmt":"2019-05-16T22:15:19","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=12445"},"modified":"2019-04-26T12:50:18","modified_gmt":"2019-04-26T19:50:18","slug":"vancouver-toronto-montreal-continue-to-be-magnets-for-young-mobile-talent-millennials","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/05\/vancouver-toronto-montreal-continue-to-be-magnets-for-young-mobile-talent-millennials\/","title":{"rendered":"Vancouver, Toronto &#038; Montreal Continue to be Magnets for Young &#038; Mobile Talent Millennials"},"content":{"rendered":"<p style=\"text-align: justify;\">The \u201cimpossibly high bar\u201d to homeownership for Millennials in Canada\u2019s major cities is not causing a generational exodus, a leading economist suggests.<\/p>\n<p style=\"text-align: justify;\">In a new report, RBC Senior Economist Robert Hogue rebuffs what he calls \u201cgreatly exaggerated\u201d concerns that ever higher housing costs may be culling the Millennial population in big cities such as Montreal, Toronto and Vancouver.<\/p>\n<p style=\"text-align: justify;\">\u201cThere\u2019s no evidence to suggest that high housing costs are gutting the ranks of millennials in Canada\u2019s most expensive cities,\u201d he writes unequivocally.<\/p>\n<p style=\"text-align: justify;\">Hogue isn\u2019t denying that a rising number of Millennials are in fact leaving major Canadian cities. But the rate at which they are departing barely makes a dent in the overall Millennial populations in large urban centres.<\/p>\n<p style=\"text-align: justify;\">So while Millennial outflows from big cities are three times greater than in 2015, for every Millennial ditching these markets there are seven to 12 moving into Vancouver and Montreal from outside the province or country. In Toronto, seven arrive for each Millennial that departs.<\/p>\n<p style=\"text-align: justify;\">\u201cVancouver, Toronto and Montreal continue to be magnets for young, mobile talent,\u201d Hogue says.<\/p>\n<p style=\"text-align: justify;\">In fact, net immigration of adults ages 20 to 34 into the three cities totalled 76,300 in 2018. That doesn\u2019t include 28,200 non-permanent residents, typically students a temporary workers, who came from other countries. Nor does it take into account the 3,800 net migrants who touched down from out of province.<\/p>\n<p style=\"text-align: justify;\">\u201cIf anything, the inflow of millennial immigrants is poised to grow in the coming years,\u201d says Hogue, noting Canada\u2019s yearly immigration target is set to climb to 350,000 by 2021.<\/p>\n<p style=\"text-align: justify;\">Already, Millennials are \u201cslightly over-represented,\u201d particularly in Vancouver and Toronto. Canadian Millennials represent roughly 20 percent of the national population, while across Montreal, Toronto and Vancouver the share of Millennials is about 22 percent of the tri-city population.<\/p>\n<p style=\"text-align: justify;\">The bottom line? \u201cHousing demand isn\u2019t at risk of falling anytime soon,\u201d says Hogue.<\/p>\n<p style=\"text-align: justify;\">\u201cWhat could fall, however, is the rate of young households who own a home. High housing prices set an impossibly high bar to clear for many millennials to become homeowners in a big city. Expect a greater proportion of them to rent in the future.\u201d<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.livabl.com\/2019\/04\/no-evidence-millennials-fleeing-canadas-expensive-cities.html\" target=\"_blank\" rel=\"noopener noreferrer\">RBC : There&#8217;s No Evidence Millennials are Fleeing Canada&#8217;s Most Expensive Cities<\/a> by Josh Sherman | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The \u201cimpossibly high bar\u201d to homeownership for Millennials in Canada\u2019s major cities is not causing a generational exodus, a leading economist suggests. In a new report, RBC Senior Economist Robert &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/05\/vancouver-toronto-montreal-continue-to-be-magnets-for-young-mobile-talent-millennials\/\">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":[13],"tags":[],"class_list":["post-12445","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Vancouver, Toronto &amp; Montreal Continue to be Magnets for Young &amp; Mobile Talent Millennials &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2019\/05\/vancouver-toronto-montreal-continue-to-be-magnets-for-young-mobile-talent-millennials\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Vancouver, Toronto &amp; Montreal Continue to be Magnets for Young &amp; Mobile Talent Millennials &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"The \u201cimpossibly high bar\u201d to homeownership for Millennials in Canada\u2019s major cities is not causing a generational exodus, a leading economist suggests. In a new report, RBC Senior Economist Robert &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/05\\\/vancouver-toronto-montreal-continue-to-be-magnets-for-young-mobile-talent-millennials\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/05\\\/vancouver-toronto-montreal-continue-to-be-magnets-for-young-mobile-talent-millennials\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Vancouver, Toronto &#038; Montreal Continue to be Magnets for Young &#038; Mobile Talent Millennials\",\"datePublished\":\"2019-05-16T22:15:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/05\\\/vancouver-toronto-montreal-continue-to-be-magnets-for-young-mobile-talent-millennials\\\/\"},\"wordCount\":379,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Real Estate\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/05\\\/vancouver-toronto-montreal-continue-to-be-magnets-for-young-mobile-talent-millennials\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/05\\\/vancouver-toronto-montreal-continue-to-be-magnets-for-young-mobile-talent-millennials\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/05\\\/vancouver-toronto-montreal-continue-to-be-magnets-for-young-mobile-talent-millennials\\\/\",\"name\":\"Vancouver, Toronto & Montreal Continue to be Magnets for Young & Mobile Talent Millennials &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2019-05-16T22:15:19+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/05\\\/vancouver-toronto-montreal-continue-to-be-magnets-for-young-mobile-talent-millennials\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/05\\\/vancouver-toronto-montreal-continue-to-be-magnets-for-young-mobile-talent-millennials\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/05\\\/vancouver-toronto-montreal-continue-to-be-magnets-for-young-mobile-talent-millennials\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Vancouver, Toronto &#038; Montreal Continue to be Magnets for Young &#038; Mobile Talent Millennials\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\",\"name\":\"Rory C Real Estate | Oakwyn Realty\",\"description\":\"Rory C Real Estate Updates | Home Selling &amp; Buying\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\",\"name\":\"Rory Clipsham\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"width\":504,\"height\":504,\"caption\":\"Rory Clipsham\"},\"logo\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.roryc.ca\\\/\",\"https:\\\/\\\/www.facebook.com\\\/pg\\\/BurnabyandCoquitlamHomes\\\/about\\\/?ref=page_internal\",\"https:\\\/\\\/www.instagram.com\\\/roryclipshamhomes\\\/\",\"https:\\\/\\\/x.com\\\/RoryClipsham\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Vancouver, Toronto & Montreal Continue to be Magnets for Young & Mobile Talent Millennials &#8226; Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roryc.ca\/blog\/2019\/05\/vancouver-toronto-montreal-continue-to-be-magnets-for-young-mobile-talent-millennials\/","twitter_card":"summary_large_image","twitter_title":"Vancouver, Toronto & Montreal Continue to be Magnets for Young & Mobile Talent Millennials &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"The \u201cimpossibly high bar\u201d to homeownership for Millennials in Canada\u2019s major cities is not causing a generational exodus, a leading economist suggests. In a new report, RBC Senior Economist Robert &hellip; [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2019\/05\/vancouver-toronto-montreal-continue-to-be-magnets-for-young-mobile-talent-millennials\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2019\/05\/vancouver-toronto-montreal-continue-to-be-magnets-for-young-mobile-talent-millennials\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"Vancouver, Toronto &#038; Montreal Continue to be Magnets for Young &#038; Mobile Talent Millennials","datePublished":"2019-05-16T22:15:19+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2019\/05\/vancouver-toronto-montreal-continue-to-be-magnets-for-young-mobile-talent-millennials\/"},"wordCount":379,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"articleSection":["Real Estate"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2019\/05\/vancouver-toronto-montreal-continue-to-be-magnets-for-young-mobile-talent-millennials\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2019\/05\/vancouver-toronto-montreal-continue-to-be-magnets-for-young-mobile-talent-millennials\/","url":"https:\/\/www.roryc.ca\/blog\/2019\/05\/vancouver-toronto-montreal-continue-to-be-magnets-for-young-mobile-talent-millennials\/","name":"Vancouver, Toronto & Montreal Continue to be Magnets for Young & Mobile Talent Millennials &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2019-05-16T22:15:19+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2019\/05\/vancouver-toronto-montreal-continue-to-be-magnets-for-young-mobile-talent-millennials\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2019\/05\/vancouver-toronto-montreal-continue-to-be-magnets-for-young-mobile-talent-millennials\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2019\/05\/vancouver-toronto-montreal-continue-to-be-magnets-for-young-mobile-talent-millennials\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"Vancouver, Toronto &#038; Montreal Continue to be Magnets for Young &#038; Mobile Talent Millennials"}]},{"@type":"WebSite","@id":"https:\/\/www.roryc.ca\/blog\/#website","url":"https:\/\/www.roryc.ca\/blog\/","name":"Rory C Real Estate | Oakwyn Realty","description":"Rory C Real Estate Updates | Home Selling &amp; Buying","publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.roryc.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":["Person","Organization"],"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7","name":"Rory Clipsham","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","width":504,"height":504,"caption":"Rory Clipsham"},"logo":{"@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg"},"sameAs":["http:\/\/www.roryc.ca\/","https:\/\/www.facebook.com\/pg\/BurnabyandCoquitlamHomes\/about\/?ref=page_internal","https:\/\/www.instagram.com\/roryclipshamhomes\/","https:\/\/x.com\/RoryClipsham"]}]}},"_links":{"self":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/12445","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/comments?post=12445"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/12445\/revisions"}],"predecessor-version":[{"id":12446,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/12445\/revisions\/12446"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=12445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=12445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=12445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}