Vancouver’s middle-aged exodus raises concerns about city’s economic future
While a lot of fuss has been made about Millennials leaving the Lower Mainland, the bigger exodus may be the group that is either nearing middle age or well into it. Generation Xers, or people from 35 to 55, could start bailing at a rate that could turn into a crisis, says Chris Fair, president of Resonance Consultancy, a research and branding firm. Mr. Fair, who also has an office in New York, commissioned Insights West to do a survey. The result was the Future of B.C. Housing report, and he was startled by the response that people with lots of working years ahead of them were planning to leave. Of people between 35 and 55 in Greater Vancouver, 47 per cent agreed that they would be selling their home for a cheaper market in the next five years. For those people, the need for affordable housing and more space was the draw. Kelowna and Victoria are top alternatives.
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