Despite being two of the most livable cities in the world, Toronto and Vancouver are seeing their most prized citizens flee at a rapid rate.
According to Statistics Canada’s most recent data on intraprovincial migration, the number of people leaving Toronto and Vancouver for other parts of each city’s respective province is increasing.
This is especially true for the Millennial demographic (the warning signs were there). Obviously, this is not good, especially since these people are supposed to be buying real estate – Canada’s only robust economic market.
That’s the connection, of course. Young people can’t afford to live in Toronto or Vancouver, so they’re ditching their downtown digs for a life in, like, Barrie (where they will also be priced out soon) or Surrey. If they can afford to drive there.
In the last five years, Toronto has lost more than 142.000 people to other parts of Ontario. Millennials (20- to 34-year-olds saw a net decline 306.28% larger than the period before. Those between the ages of 35 to 49, by comparison, saw a net decline 48.52 per cent larger than the period before.
The situation in Vancouver isn’t quite as alarming, but it’s far from ideal. From 2012 to 2017, the city and surrounding region saw a net migration of minus-18,670 people.
As for those leaving the B.C. or Ontario entirely, perhaps they’re flocking to Moncton. I look forward to the next Census to confirm this hypothesis.