Published On: Wed, Jul 21st, 2021
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High Prices, Tough Circumstances Keep Some Adults at Home With Parentson July 21, 2021 at 12:45 pm Save 10% on Citrus trees with code CITRUS
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An increasing number of Canadian adults are living at home, especially in markets where housing is expensive. Wendell Cox, urban policy analyst and principal of Demographia in St. Louis, Missouri, says housing was more affordable when boomers were young than it is today. “House prices today are four times relative to incomes what they were in Vancouver in 1969. They are three times what they were in Toronto 30 years ago,” Cox said in an interview. “In Vancouver … you might as well hang a sign from the Lions Gate Bridge that says ‘speculators welcome,’ because you’ve established a system where house prices go up more than any other investment. And don’t complain that speculators are coming in and ripping you off—that’s what’s happening, and it’s happening in Toronto as well.” The affordability gap is shown by other metrics. Cox said historically in English-speaking countries, the median house price was …

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