Grand festival condos. Young people are defeated by house prices. With the economic downturn, the phenomenon of young Canadians “gnawing on the old” is becoming more and more serious.Please Visit: Grand festival condos to Get Your VVIP Registration Today!
The average price of a new home in Canada is C $751881 (US $559123) per household in 2017, and the real estate industry currently accounts for 12% of Canada’s GDP. The stubbornly high house prices, the increasing probability that banks will continue to raise interest rates, and the slow increase in the income of young people have left many millennials (millennials,18-34) unable to do so.
Millennials have no choice but to “gnaw on the elderly” when buying a house: 35% of respondents said they had to “gnaw on the elderly” in order to afford a down payment, the highest proportion of all ages in Canada. According to the survey, only 11 per cent of Canadian 25-to 29-year-olds lived with their parents in 1981, up from 25 per cent in 2011, while 59 per cent of 20-to 24-year-olds lived with their parents.
Rising house prices and living prices, employment and income instability make it impossible for young people to afford to live independently. Poor job prospects force many young Canadians with only a high school diploma to return to campus for higher education or take craft courses so that they can have a better way out. This long adult education usually lasts until their thirtieth birthday. It is very difficult to live independently by paying taxes on ordinary work income. It is very difficult to save a down payment of NT $800,000. Only by living in parents’ homes and reducing the fixed expenses of housing, which accounts for the largest part of food, clothing, housing and transportation, can you buy your own property.
In recent years, Dawen has been the representative of high house prices in Canada and around the world. it is a fact that housing is expensive. If you live in a property in the most expensive city in the world, you can imagine its anxiety if the house is not yours. Another study by real estate website Point2 Homes found that Vancouver is too expensive to have friends in unaffordable cities in North America, surpassing cities such as New York and San Francisco in the United States. The average annual household income in Vancouver is $80, 000, while the median house price is $1.4 million, more than 17 times that of the former.