Why Living in Canada Has Become Impossible for Gen Z

Housing, Inflation, and Immigration: Why Gen Z Can't Afford to Stay in Canada

Canada was once seen as a land of opportunity—affordable housing, great healthcare, and a strong social safety net. But for Gen Z and younger generations, that dream is quickly falling apart. Soaring housing costs, a cost-of-living crisis, and an overwhelmed infrastructure are making life in Canada financially unbearable.

For many young Canadians, owning a home is a distant fantasy, rent is eating up paychecks, and even basic necessities feel out of reach. Immigration policies, once widely supported, are now under scrutiny as rapid population growth strains services and housing supply. Let’s dive into the real reasons why Canada has become an impossible place to build a future—and why so many young people are struggling just to get by.

1. The Housing Crisis: Homeownership Is a Fantasy

Buying a home in Canada used to be challenging but possible. Now? It’s nearly impossible. The cost of housing has skyrocketed, leaving even high-income earners locked out of the market.

The numbers don't lie:

• Just two years ago, a two-bedroom apartment in Toronto cost $2,400. Today, it’s $3,300, a 25% increase per year.
• In Vancouver, the average home price is over $1.3 million—more than 10 times the median income.
• Even in smaller cities, housing prices have soared, pushing young people further into financial instability.

The impact:

• Only 15% of Gen Z expects to afford a home in the next five years.
• Even the top 10% of earners struggle to qualify for a mortgage.
• More young adults are staying with their parents longer because rent is simply unaffordable.

For older generations, homeownership took 2-3 years of income to achieve. For Gen Z, it takes 6-7 years—and that’s assuming they can even save enough while covering rising rent, groceries, and other essentials.

2. The Cost-of-Living Crisis: Affording Basics Is a Struggle

It’s not just housing—everything is more expensive. Even for those with full-time jobs, making ends meet feels like a constant battle.

How bad is it?

• Groceries have increased by 25% since 2019.
• The median rent in Canada is over $2,000, consuming more than half of most young workers’ salaries.
• Healthcare costs have risen 17% in the last five years, with higher insurance deductibles.

While wages have increased, they haven’t kept up with inflation. The result? Young people are forced to cut back on essentials, delay major life goals, and take on multiple jobs just to survive.

3. Immigration, Population Growth, and a Strained Infrastructure

Canada has always been built on immigration, but in recent years, the government has pushed record-high population growth without expanding housing, healthcare, or infrastructure to keep up.

Immigration by the numbers:

• In 2023, Canada welcomed 465,000 new permanent residents—a record high.
• The government plans to increase this number to 500,000 per year by 2025.
• Public opinion has shifted—in 2022, only 27% of Canadians thought immigration levels were too high. In 2024, that number jumped to 58%.

The consequences:

• Housing demand has skyrocketed, worsening the affordability crisis.
• Schools and hospitals are overwhelmed, leading to longer wait times and overcrowding.
• In cities like Brampton, Ontario, some basements house up to 25 people due to the lack of affordable housing.

While immigration remains essential for economic growth, the lack of planning and investment has left many struggling to access basic services, affordable homes, and stable jobs.

4. Trudeau's Leadership: Failing to Address the Crisis

Prime Minister Justin Trudeau’s government has faced growing backlash over its handling of housing, inflation, and immigration.

The public's reaction:

• Trudeau’s approval rating hit 33% in September 2024—one of the lowest in his tenure.
• Only 26% of Canadians say they want him as Prime Minister in the next election.

Recent policy shifts:

• Due to mounting pressure, Trudeau admitted to policy failures and announced plans to lower immigration targets to slow population growth.
• A new housing minister was appointed, but many believe these changes are too little, too late.

With federal elections approaching in 2025, these issues are set to dominate political debates—but for Gen Z, the damage has already been done.

5. Gen Z's Future in Canada: What's Next?

For many young Canadians, the future looks uncertain.

What's happening?

• More Gen Z workers are turning to remote jobs or moving to smaller cities to find affordable housing.
• Many are considering leaving Canada altogether in search of better financial opportunities abroad.
• Side hustles, freelancing, and gig work are booming, as traditional employment isn’t enough to cover rising costs.

At the same time, Gen Z is pushing for political change, advocating for policies that could improve housing affordability, control inflation, and expand infrastructure.

Is Canada Still a Land of Opportunity?

For Gen Z and younger generations, Canada is becoming less livable, less affordable, and less hopeful. Without major policy shifts, many will continue to struggle financially, delay milestones, and rethink their future in the country.

The question now isn’t just why is Canada so expensive?—it’s how long can young Canadians hold on before they have to leave?

Stay informed on financial trends, housing crises, and Gen Z’s fight for a better future with Woke Waves Magazine.

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