This is The Week in Polling, your Saturday dose of interesting numbers from top pollsters in Canada and around the world, curated by The Hub. Here’s what we’re looking at this week.
Young Canadians are delaying important milestones because of the housing crisis and the high cost of living
Source: Abacus Data
The impact of the Canadian housing crisis and the high cost of living has resulted in many young people delaying important life events.
Based on the most recent data available, the average income of a Canadian between the ages of 25 and 34 is $55,000, while the average asking price for a rental unit in Canada is $2,185 per month. The average home costs $696,179.
According to a DeepDive by Hendrik Brakel, groceries in Canada have risen by 21.4 percent between March 2021 and March 2024. Increases like these make the cost of living unbearably high for young Canadians.
Many young people find the goals of starting a family, renting a new place, and buying a home unreachable, given their salaries and the high costs they have to endure.
