MOVING TO ESCAPE HOUSING COSTS
Immigration law
14 Nov
Recent survey findings indicate that newcomers or Canadians seeking bigger homes are increasingly inclined to relocate from their current province or leave the country altogether in pursuit of more affordable housing.
Housing prices in Canada have skyrocketed in recent years, making it harder than finding a unicorn on a cloudy day for many folks to snag a home. This sticker shock has prompted nearly 40% of surveyed newcomers who landed in Canada in the last ten years to think about packing up and heading elsewhere.
According to the survey, newcomers to Canada are keener than Canadian-born folks and long-time residents to pack up and move to a new province because of housing woes. A whopping 39% of those who've been here less than a decade are seriously mulling over a change of scenery.
Renters are leading the charge in the "let's find a new place" showing the most enthusiasm for a change of scenery. Meanwhile, homeowners who've cleared their mortgage were like, "Nah, we're good right here, thanks!"
In Canada, housing costs have shot through the roof in recent years, leaving many people chasing their dream home like it's the last piece of pizza at a party. As a result, almost 40% of newbies who've arrived in Canada in the past decade are contemplating hitting the road in search of more wallet-friendly digs.
Ontario leads in the number of people contemplating a move due to housing concerns, with 39% indicating serious consideration. Among them, 18% expressed strong agreement and are actively weighing their options.
Plenty of skilled newcomers to Canada are highly skilled and opt for the hustle and bustle of these big cities, but now they're pondering their next move like contestants on a reality show—whether to stick around, head to another province, or even jet off to another country.
Since the COVID-19 pandemic, Atlantic Canada has seen more people flocking in, thinking they've found a sweet deal on living costs. Nova Scotia hit a milestone of one million residents in late 2021 and the party hasn't stopped. But with more folks moving in, housing prices have shot up faster than a viral cat video. Now, a quarter of survey-takers in Halifax are eyeing the exit ramp.
The study also inquired about other factors that might prompt newcomers and Canadians to relocate. For many, quality of life emerged as the primary consideration, followed by the cost of living and the quality of healthcare. A smaller group expressed a desire to be nearer to family.
Canada's always been a top pick for newcomers worldwide, but recent polls show that some Canadians are a bit concerned about how all these new faces might be squeezing the affordability out of things.
According to the Canadian government, they're sticking to their guns on this one. They're bringing in loads of newcomers because they're seen as essential for keeping our economy on its toes and making sure we've got enough hands-on deck as the old-timers start to hang up their hats.
Nevertheless, rapid population growth across Canada has strained social systems like healthcare and sparked intense demand for limited housing, driving up costs. This has raised concerns that Canada's reputation as a welcoming destination for newcomers could be at risk.
In recent months, Immigration, Refugees, and Citizenship Canada (IRCC) has been playing population Tetris. They've set limits on international student applications and are even tossing in some "soft targets" for temporary residents in their new Immigration Levels Plan for 2025-2027.
Just so you know, newcomers to Canada are eligible to purchase a home right off the bat, even if they've recently immigrated. Additionally, new immigrants can often secure a mortgage, provided they meet typical financial criteria.
Thunder Bay, Ontario takes the cake as Canada's most wallet-friendly city, with Saint John, New Brunswick, and Red Deer, Alberta, close behind. Apparently, British Columbia and Nova Scotia didn't get the memo for the affordability party.
Young adults aged 18-24 are showing the most wanderlust when it comes to escaping the pressures of the housing market. A whopping 42% of this age group are seriously considering packing their bags and leaving their province behind. This trend highlights their eagerness to seek more affordable housing options or new opportunities elsewhere.
Leaving the bustling city behind for the calm embrace of suburbs or a quaint town is like trading in your high-heels for comfy slippers—it’s a lifestyle shift that not everyone finds easy.
Picture it: you're going from dodging pigeons and traffic to dodging... well, maybe just slower traffic and the occasional squirrel. Suddenly, instead of trendy cafes on every corner, you're debating between which grocery store has the best deal on lawn fertilizer. And don’t get me started on the commute—going from subway sprints to leisurely drives where the biggest traffic jam involves a herd of cows crossing the road.
But seriously, it’s not just about location; it’s a whole vibe change. City slickers might find themselves missing the 24/7 convenience of bodegas or the thrill of spontaneous rooftop parties (who knew you’d ever miss those 2 AM fire alarms?). Yet, there’s a charm to suburbia too—where your neighbors wave hello and your biggest noise complaint is a lawnmower at 9 AM on a Saturday.
Sure, the decision to leave the city might not be a snap decision for everyone, but sometimes, all it takes is one traffic jam too many to make that move seem as appealing as a bottomless brunch.
In summary, the decision to leave a city for the suburbs or a smaller town is not just about changing scenery; it involves weighing lifestyle preferences, practical considerations, and emotional attachments to current surroundings. It represents a significant lifestyle change that individuals and families carefully consider before making a move.