Canadian cities unaffordable for young residents: report

ON, six years ago to go to university in Vancouver, BC, 23-year-old Riley Cunningham has moved around the city five times.“I didn’t realize how expensive it is to live here,” she/they said, speaking to Global News on Sunday.Most places Cunningham has come across have been way too expensive or have come with problems.

Here’s what it takes to buy a home in Canada’s ‘soul-crushing’ housing market Since moving to Vancouver, Cunningham has lived in two basements, one without windows or a closet, and another without a kitchen or laundry.

Another apartment had spiders.“I’ve definitely felt discriminated against. There’s this stereotype that young people, especially students, love to party and can create a mess,” she/they said.Now looking for another new place, Cunningham is waitering at two jobs six days a week and is still finding it hard to save money, especially with student debt looming.“I’m trying to look very carefully, plan my next move and hope that it won’t ruin me financially,” she/they said. “I’m hoping that I’ll get to stay in the city that I love and that I don’t get priced out.”Across Canada, cities big and small have become unaffordable for young people to live in, according to the recent Youthful Cities Real Affordability Index.Young people in Canada aged 15 to 29 have been the hardest hit by the pandemic and are most likely to work in the service industry, run up an average deficit of $750 a month living in cities, as found in a report, presented by RBC Future Launch.

This is how much on average young residents are losing living in Canadian cities each month.And, their salaries aren’t keeping up with the cost of living.