A Research Co. poll, released Feb. 18, 2020, found that 66 per cent of respondents in Metro Vancouver said they expect their children will move away on account of financial constraints. (Pixabay photo)

66% of parents think unaffordability will push their kids out of Metro Vancouver: poll

Survey sees uptick in parents feeling the financial stressors of living in the Lower Mainland

More parents than ever say they expect their kids will be forced to move away from Metro Vancouver due to a lack of affordability, according to a new poll.

Research Co. released findings from a survey Tuesday which asked 623 B.C. parents a number of questions about their finances.

Sixty-six per cent of respondents in Metro Vancouver said they expect their children will move away on account of financial constraints. That’s 24 percentage points more than when the polling company asked the same question in a different survey in 2019.

Parents are likely feeling this way because of their own financial situations, the poll suggests.

About 62 per cent of parents who live in the Fraser Valley and 59 per cent of those in Metro Vancouver acknowledge that saving for the future has become more complicated.

Across the province, almost three-in-five parents, or 58 per cent, say it is currently “very difficult” or “moderately difficult” for them to save money in a bank account.

READ MORE: Victoria, Abbotsford record biggest jumps in rent prices nationwide

Forty per cent of respondents said they struggle to pay for day-to-day expenses such as child care or transportation.

In addition to financial concerns, 53 per cent said they “frequently” or “occasionally” face family-related stress and 51 per cent said they struggle with housing-related stress.


@ashwadhwani
ashley.wadhwani@bpdigital.ca

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