Ah, the retired life – a flourishing green front lawn, Sunday vibes every day of the week, quarterly trips to the tropics, and, uhhh, what the hell? Kids still kickin’ around the house, apparently.
According to data from a new survey by real estate agency Royal LePage, nearly a quarter (23 per cent) of Baby Boomers (those aged 54 to 72, and who are the real reason Millennial life is just impossible) still share their home with at least one adult kid.
Just under half of those surveyed say they expect their grown-up dependents to move out by the age of 25, but nine per cent expect those pesky big kids to stick around until at least 35 years old. That number is significantly higher in British Columbia, where a quarter of Baby Boomers have or expect to have a 35+ son or daughter living at home.
You probably know where this is going. Indeed, the astronomical cost of renting or owning a house in the province – as with the rest of Canada’s major cities – has delayed many kids’ move-out dates. (Home ownership is now more expensive than it has been in the last 30 years; renting a one-bedroom in Toronto or Vancouver, meanwhile, will set you back more than $2,000 a month on average).
There is hope, however, albeit with a somewhat morbid reality: Baby Boomers make up about 30 per cent of the Canadian population, and, yes, they will die soon. That means there will be plenty of room for their adult kids – or other Boomers’ adult kids – to soak up the leftover vacancy.
Unless, of course, Canada’s population skyrockets to like 100 million people in the near future. Oh.