Canada’s baby boomers almost have 25 per cent of their kids living with them.
This is what the real estate firm, Royal LePage discovered.
It was part of a survey on baby boomers.
The survey revealed that in boomer households – ages 54 to 72 – at least one adult child was living with them.
And 44 per cent of those boomers expect their kids to leave the nest by age 15.
But nine per cent don’t expect that to happen until their kids reach the age of 35.
But in British Columbia the figures are startlingly different.
Almost 25 per cent of B.C. boomers expect their kids to stay home beyond the age of 35.
And the reason for that is?
British Columbia has the highest house prices in Canada.
“The cost of living and particularly the cost of housing is keeping people at home,” said Phil Soper, president of Royal LePage in an interview with the Huffington Post.
But high housing costs are not the only reasons children are living with their boomer parents.
It’s a cultural shift too.
“…definitely a lot more involvement by parents in their adult children’s lives.
“I’m a later baby boomer and it was quite uncommon among my friends for parents to be paying for part of the house that they buy. You just waited until you had enough money,” Soper said.
But Canada’s baby boomers also are exploring new housing options.
They will either downsize or move out of the big cities.
And boomers in Ontario are ready to do so.