Last Wednesday, the Bank of Canada announced that they would be raising interest rates by 100 basis points, allegedly in an attempt to arrest inflation. Toronto City News reports that this is the biggest one-time increase since August 1998. Many experts predict that interest rates will continue to increase into the fall with another 100 basis points possible. This news is everywhere, and you are sure to struggle to escape it. So, we thought that we would write about something interesting that was recently released, but crowded off of the front page due to the rate hike.On July 13th of this year, Canada released the results of the 2020 census which included profiles for housing statistics, one of them being housing and living arrangements. Using 100% of the data as the universe, it is reported that the number of private households with either only one person or five or more people has increased from 2016 to 2020. Of course, this increase in 5+ people households could have been due to having more children, but in fact there was another interesting trend that was seen. It seems that multi-generational housing is becoming a more popular option for Canadians. This may be to help manage rising housing costs, but it also seems to be driven by a renewed interest in maintain the family unit and a shift in lifestyle.It has been reported that even prior to the effects of the pandemic, 20% of Canadians were living in multi-generational housing, showing a 37.5% increase from 2001 to 2016, Most of this increase occurred in Toronto. Of course, multi-generational housing is not a foreign concept to people residing outside North America or to non-Western immigrants. However, to many Western-influenced Canadians, it can seem strange to share housing ownership with your Grandmother, Mother, Cousin, etc. The reality is that most people around the world have been doing this for centuries, and maybe Canadians can learn a thing or two about this practice, hopefully aiding them through nightmare property prices.&nbsp;I really questioned how many people were actually willing to do this. In Western society’s individualistic culture, the idea of kids moving out of their childhood homes freshly at age 18, sharp, is a popular view. (Although the Boomerang Effect where the children return home at 30, is still alive in some communities.) Would people really want to be caught dead still living in their parents’ house, especially permanently? I thought I’d ask my Instagram followers in a poll. It is important to note that this sample is an almost even split between genders, with slightly more females than males. Also, about 1/3 of this sample is from immigrant parents, providing a possible non-Western cultural influence on votes. Finally, the age range of this sample is approximately ages 19 to 25. The results were somewhat surprising, but do make sense give the Census Data. I found that a significant 47% of voters said yes, they would consider living in a multi-generational home due to housing prices, and 53% said no. This split could be partially related to property prices, but that doesn’t tell the full story. Canada is one of the most diverse countries on earth and living with multiple generations is normal in the cultures that many people come from. In East Asian, South Asian, African, Eastern European, the Middle East, and Indigenous Canadian cultures, it is quite normal. In fact, it is the preferred model.Perhaps, what is considered to be an unconventional living practice by many Canadians, just may become the standard going forward as people attempt to get a handle on the rise in housing prices. However, the benefits extend beyond just direct costs. A closer family unit is healthy and strong. A healthy and strong family provides benefits not only to their immediate members, but to society as a whole. During the pandemic we saw that too many older Canadians were isolated<figure class="table" style="width:100%;"><table style="border-color:hsl(0, 0%, 100%);border-style:solid;"><tbody><tr><td style="border-color:hsl(0, 0%, 100%);border-style:solid;width:50%;"><figure class="image"><img src="https://files.rifo.co/CompanySite/25/25_图片 2.jpg"></figure></td><td style="border-color:hsl(0, 0%, 100%);border-style:solid;width:50%;">and lonely. Mental health challenges have grown across all ages. Substance abuse has increased. Those without a support network were especially vulnerable. People like to joke about family tensions and Mother-in-Law jokes are legendary, but a close family could just be the answer that Canada needs. Getting back to our roots and our heritage of supporting our extended family could just be the trend that we need.So next time you’re following an SUV or Minivan on the highway, take a second look at that back window decal representing the family structure. You just might find a few extra figures. See if you can pick out Grandma.&nbsp;&nbsp;</td></tr></tbody></table></figure>

Canada’s Census Reveals Surprising Housing Trends. Change toward Multi-Generational Family Units is Healthy and Strong – Op-Ed

Last Wednesday, the Bank of Canada announced that they would be raising interest rates by 100 basis points, allegedly in an attempt to arrest inflation. Toronto City News reports that this is the biggest one-time increase since August 1998. Many experts predict that interest rates will continue to increase into the fall with another 100 basis points possible. This news is everywhere, and you are sure to struggle to escape it. So, we thought that we would write about something interesting that was recently released, but crowded off of the front page due to the rate hike.

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