VANCOUVER (NEWS 1130) — More adults than expected have moved back in with their parents since the COVID-19 pandemic began.
According to a new study called ‘Generation Boomerang’ by Finder, 1.5 million Canadians have already returned home.
Nicole McKnight with Finder says while the younger generation is more likely to move back, older adults have done the same.
“This trend kind of moves beyond just… having that inability to get off your feet. It’s also people that have had their careers for quite some time,” she explains.
Older adults may be facing economic stresses with job loss pushing them to make this decision.
Thirteen per cent of those aged 18 to 24 are already back living with their parents and three per cent are thinking of making the move.
People aged 25 to 34 moving in with immediate families for financial support is at about six per cent, while three per cent of those aged 35 to 44 made the shift and four per cent of 45 and 54-year-olds did the same.
Two per cent of those aged 55 to 64 followed the trend.
Aside from economic reasons, McKnight says there have also been trends of some adults simply wanting a spacious area to live in.
“Living in a very small space, in a condo… moving to parents who lived in a larger home in the suburbs, they would be more comfortable to work from home in that scenario.”
Although older adults might have weighed the pros and cons of moving back, moving is necessary for younger adults.
“Cities like Vancouver, Toronto, Montreal, where young people move to start their career, often have very high cost of living, whether you’re renting, whether you’re owning a new home,” McKnight says.
Provinces hardest hit by the pandemic like B.C., Ontario and Quebec by far saw the most movement according to McKnight.
“Of all the provinces B.C. had the most people that had either returned home with their parents or… were thinking about it.”
McKnight adds an interesting reverse trend found in the survey has been finding grandparents moving in with adult children who may struggle with childcare as schools and daycare programs become less available.
She also adds some adult children might want their parents to move in out of concern about “social interaction, alleviate concerns around loneliness, social isolation.”
McKnight hopes through the results recorded could also suggest changes to living arrangements in the future.
“There could be more rental options opening up, if there are some people that are questioning their lifestyles. Whether they’re thinking ‘I’ll move in with my parent’s long term’ or perhaps ‘living in a densely populated area isn’t necessary for me anymore. If I’m able to work from home long term,'” she says.
“So we might see maybe a little bit of a reshuffling. I think big cities will always hold their appeal. But perhaps it’ll provide some people with opportunities that they may have had a harder time with before in terms of breaking into that space, of course, assuming that they have, you know, the economic means to do so.”