Unable to afford to live where I grew up

April 6, 2016 · 0 Comments

Spring is right around the corner!
With spring comes renewed fervor in home sales, a feeling that seems to never end.
Housing prices in the GTA have continued on their unobstructed path up. Great for homeowners looking to exit the market; terrible for young adults looking to enter.
I grew up in Aurora and called it my home from ages 1 to 22. At 17 I graduated from Aurora High and went on to pursue a degree in chemical engineering. At age 22, I’m graduating in May and working full-time for a consulting firm come June, but I simply cannot afford to put down roots in the town I grew to so dearly love.
The affordability (or lack thereof) of housing continues to hurt young professionals and encourages a greater equality gap. Just over 60 years ago, my grandfather began his first job after WWII with Bell Canada. His first house purchased on the north end of Toronto proper, cost him approximately eight times his yearly salary.
Today, if I wanted to purchase my childhood home in Aurora it would cost me around 16.5 times my salary. I cannot afford to give my future children the same quality of life I grew to love in Aurora; this saddens me greatly.
This has led to our provincial government spending tens of thousands of dollar to help develop a professional who will take their talents to our southern neighbours: where a house in the suburbs is a more palatable eight times my annual salary.

Daniel Rabinovitch
Aurora