Skyrocketing housing prices in Vancouver and other cities in Western Canada hint at grave implications for a new generation of Millennial homebuyers. Despite BC's booming job market, the high cost of real estate is forcing younger purchasers to postpone starting a family, and is even forcing them out of the city where they grew up.

1. T H E H I G H C O S T O F H O U S I N G I N
V A N C O U V E R I S S P L I T T I N G U P F A M I L I E S .
B U T T H E R E I S A S O L U T I O N . . .
CAN FAMILIES STILL
LIVE IN VANCOUVER?
P R E S E N T E D B Y
ClassicLifeCare.com

2. Despite Vancouver's
booming job market, the
high cost of real estate is
forcing younger purchasers
to postpone starting a
family, and is even forcing
them out of the city where
they grew up.

3. VANCOUVER HAS
BEEN RANKED
THE "THIRD
LEAST-
AFFORDABLE
HOUSING
MARKET IN THE
WORLD"
In terms of affordability
Vancouver ranks worse than
even New York or Boston,
according to research group
Demographia. In just 12 years,
Vancouver’s "affordability
multiple" has jumped from 5.3
to 10.8. Demographia came up
with this multiple by dividing
the median $756,200 median­
priced house by Vancouver's
median household income of
$69,700.
Source:www.demographia.com/dhi.pdf

4. Source:www.rebgv.org/monthly­reports Source:www.bcstats.gov.bc.ca
How much house prices
have increased in Vancouver
from 2015 to 2016.
How much wages have
increased in Vancouver from
2015 to 2016.
25% 3.8%

5. “Millennials will be the first
generation that is not going
to be better off than their
parents were.”— Melanie
Reuter, Real Estate
Investment Network
Source:www.theglobeandmail.com/life/home­and­garden/real­estate/gen­y­is­redefining­home­ownership­­­and­the­bc­real­estate­
market/article16906799/
W H A T D O E S
T H I S M E A N
F O R G E N Y ?

6. M I L L E N N I A L S A R E
B E I N G F O R C E D T O
L E A V E V A N C O U V E R
This breaks up the extended family
leaving their parents and their
grandparents behind.
"No one wants to raise a child on the
tenth floor of a condominium."
Source:https://www.reddit.com/r/toronto/comments/42tb6m/landuse_policies_driving_housing_price_spikes_in/czcwu0u

7. How Stretched Families
Can Deal With Vancouver's
Affordability Crisis

8. Consider
"multigenerational living"
“ H u m a n b e i n g s h a v e a l w a y s b e e n d e p e n d e n t o n e x t e n d e d
f a m i l y , a n d w e ’ r e s t a r t i n g t o g e t b a c k t o t h a t , ” — J o h n
G r a h a m , a u t h o r o f A l l i n t h e F a m i l y : A P r a c t i c a l G u i d e t o
S u c c e s s f u l M u l t i g e n e r a t i o n a l L i v i n g .

9. 1) Discuss the the different
circumstances with your family so that
everyone is on the same page as to why
you are living together.
If it's a temporary situation, let your
family know what your situation is.
2) Define the responsibilities
surrounding those who need to be
cared for.
3) Discuss boundaries as a group, as
they must be respected by each
household member, from the youngest
to the eldest.
4) Let parents raise their own children.
5) Decide ahead of time who will be
responsible for paying bills.
TIPS FOR
SUCCCESSFUL
MULTI-
GENERATIONAL
LIVING

10. ClassicLifeCare.com
C O N T A C T
Q U E S T I O N S ?

11. Q U A R T E R L Y
A U T U M N / W I N T E R 1 6
O N L I N E S T O R E . C O M