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URBAN EXODUS — Young Canadians Are Giving Up on Homeownership!

263 views · Published 16 January 2017 · 12:05 · Indexed 14 November 2026

Channel: Mike Martins · 2017 · News & Politics

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Employment difficulty → housing unaffordability → delayed/lost homeownership → fewer children → increased reliance on immigration for population growth.


Today we're continuing the discussion about Canada's housing crisis, and this article ties directly into something I've been talking about recently: people leaving major Canadian cities because the cost of living and homeownership are getting beyond what ordinary people can afford.

The article calls it an:

“Urban Exodus.”

Home prices in Vancouver, Toronto and surrounding communities have climbed so high that some first-time buyers are now being forced to reconsider the entire idea of owning a home in the city where they live.

Do they keep renting?

Do they move farther away?

Or do they give up on homeownership altogether?

One example in the article really caught my attention. A 23-year-old Toronto-area marketing and public-relations professional named Nicole Silver had reportedly managed to save approximately $60,000–$70,000 for a down payment while living with her family.

That's impressive.

But even after saving that amount of money, she discovered that condominium prices had continued climbing beyond what she could realistically afford.

That's what concerns me.

What happens when somebody does what they're supposed to do—gets educated, works, saves money and prepares for homeownership—but the market keeps moving away faster than they can save?

The article also discusses changing attitudes toward renting and whether younger Canadians may eventually become less attached to homeownership.

I question that idea.

To me, owning a home isn't simply about having somewhere to sleep. Homeownership can provide people with stability, independence and a feeling that they're actually building something for their future.

I'm also asking some much bigger questions in this video about population growth, immigration, employment, infrastructure and Canada's declining birth rate.

Canada has always been a country built heavily through immigration. My own family came from Portugal, my wife immigrated from the Philippines, and immigration has contributed enormously to this country.

My question is about balance.

How quickly can Canada's population grow while housing, infrastructure and employment opportunities keep pace?

And if young Canadians can't afford homes or families, what happens next?

Does Vancouver's affordability problem eventually push people into other communities?

Does Toronto experience the same thing?

Do younger Canadians simply accept permanent renting?

These are questions I want to document now in 2017, because I think we're going to be talking about them for years.

Let me know what you're seeing where you live.

Are young people being priced out?

Are people leaving your city?

And is the traditional Canadian dream of owning a home still achievable?

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