Young adults in Toronto face way greater living challenges than their parents ever did Toronto
from Generation Squeeze, it would cost someone in that age range about 27 years to save up for the same home.
That's more than two decades longer than their parents would have had to save for the exact same type of place. We can thank Toronto'sfor that, but stagnant salaries seem to be playing a bigger role than most people realize. According to analysts, the typical full-time annual earnings for young adults would literally need to triple to allow for a typical young person to carry a mortgage that covers 80 per cent of the value of an average-priced home in the city at current interest rates.And boomers wonder why their adult children are all stuck in Peter Pan mode, delaying important milestones likeand having kids until...
Maybe they never will, and that's okay — but nobody can blame our lack of stability on Uber Eats and poor financial skills. Full-time workers aged 25-34 are making, on average, the same amount of money that someone in the same age range would have made in 1976. Meanwhile, housing prices have tripled. Image via Generation Squeeze.
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