"Statistics Canada reported that 16.3% of millennials aged 25 to 39 were living with a parent in 2021, compared to 8.2% of baby boomers at the same age in 1991. This indicates a significant shift in living arrangements across generations."
"Millennials had the lowest home ownership rate at 49.9% in 2021, while 56.2% of Gen Xers owned homes in 2006 and 55.9% of baby boomers did in 1991, highlighting the challenges millennials face in the housing market."
"In major cities like Toronto and Vancouver, the percentage of millennials living with parents was even higher, with 26.1% in Toronto and 19.3% in Vancouver, reflecting the impact of high housing costs."
"The share of millennials living with a spouse or partner was only 62.8% in 2021, a decrease from about three in four baby boomers in 1991, indicating changing family dynamics."
In 2021, 16.3% of millennials aged 25 to 39 lived with a parent, compared to 8.2% of baby boomers in 1991. Millennials had the lowest home ownership rate at 49.9%, while 56.2% of Gen Xers and 55.9% of baby boomers owned homes at similar ages. The trend was more pronounced in cities like Toronto and Vancouver, where housing costs are highest. Additionally, only 62.8% of millennials lived with a spouse or partner, down from three in four baby boomers in 1991. Rising housing costs have significantly impacted these trends.
Read at www.cbc.ca
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