For Brampton native Sara Solito, the decision to live at home with her parents was an easy one.
Solito commutes for almost two hours daily to her job at a Toronto-based company, and despite the fact that she has a full-time job, a challenge in and of itself for many young people, she plans to continue living at home.
“I have $20,000 worth of student debt, so I don’t see myself moving out anytime soon, says Solito. “To top it off the housing market insane these days so I honestly don’t know when I’ll be able to afford a house.”
Solito isn’t an isolated case. New data out of the University of Waterloo has found that 80 per cent of young adults living with their parents are doing so to save money.
The report also found that many can’t afford Toronto’s rent prices or have a sizable debt to pay off or can’t find stable enough employment to warrant living on their own. The researchers say that this quashes the notion that millennials are lazy moochers living off of their parents just because.
Findings from the report also show that almost 50 per cent of young people in the notoriously expensive GTA are living with their parents, which is significantly higher than the Canadian average of 35 per cent.
For lots of young people living in Brampton, this isn’t a surprise given the city’s large South Asian community in which living at home is a perfectly normal and acceptable.
The study also quashes another misconception — that young people are discontent or unhappy living at home. 70 per cent of participants in the study noted that they were satisfied or very satisfied with their lives while living with their parents.
Solito says that the amount of time spent commuting and the hefty student loans left to pay off certainly don’t make her current situation a walk in the park.
“I would love to be more self-sufficient, but given my student debt alone, it just isn’t possible,” she says. “But for now I’m fine living with my parents.”