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Young, talented workers aren’t just thinking about leaving Toronto. They’re already on their way out, and the fallout will be enormous
Although some seniors are cashing out of their properties and leaving Toronto, more than half are between the ages of 20 and 38, along with many children under the age of five. If we don’t fix this, and soon, Toronto will lack the young, talented workers that are at the heart of any city’s economy.
The young, middle-class families Toronto needs to function and thrive are packing up, leaving the city’s viability at risk.
A recent Angus Reid poll found that more than 40 per cent of Greater Toronto Area residents are “seriously thinking of leaving Ontario because of the cost of housing here.” Quality of life and other cost-of-living concerns were also cited as reasons to leave the province. Recent immigrants to Ontario expressed the highest desire to move. Many consider Alberta, with its high wages and relatively affordable housing, as a prime destination. Others said they were considering moving to the United States.
Policymakers from all three orders of government should take these insights seriously.
