It used to be that parents were distraught when their kids finally flew the coop, and said kids couldn't wait to flee the nest. Not so anymore. What with the of higher cost of living and a flaccid job market, many young adults just aren't leaving home in droves. According to Human Resources and Skills Development Canada, 42 per cent of Canadians aged between 20-29 are still living at home.
No wonder when it costs an average of 5,397.50 to move out, according to the infographic at getoutofmyhouse.ca.
“We’re trying to bring a little levity into a more serious situation, which is that economic times are tough right now for young adults just starting out,” says RateSupermarket.ca President Kelvin Mangaroo. “We’re shining a light on the issue, while underscoring the importance of financial literacy for young people.”
To underscore and make light of the housing 'problem,' the company launched the “I Love You, Now Get out of My House!” giveaway earlier this month. With over 150 entries from parents and grown children alike, six finalists have now been selected and the winner will be chosen via online voting.
On May 12, the winner will take it all—a cash prize totaling $5,000—presumably to put toward those inflated moving costs. So do these poor parents a favour and vote. It could mean one family's freedom!
Printer-friendly version