Homebuyers escaping high housing costs by relocating to secondary cities - News Summed Up

Homebuyers escaping high housing costs by relocating to secondary cities


The 26-year-old bank employee and her partner left Toronto and bypassed the suburbs of the GTA for the affordability of Kingsville, Ont. Bacci is among the growing number of first-time homebuyers relocating long distances to escape the high cost of big-city housing. Auto dependent suburbs grew 17 per cent between 2006 and 2016 and exurbs grew by 20 per cent. High housing costs are also prompting more adult children to live at home, delaying downsizing by their parents. Faced with high costs to relocate in the city, these baby boomers are also looking to follow their offspring to these secondary cities, he said.


Source: thestar May 26, 2019 13:52 UTC



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