Quote:
Originally Posted by OldDartmouthMark
Interesting discussion. I've been enjoying the information posted by all in this thread.
So is there a trend among the younger generation to aspire to live in an apartment?
|
I don't mean to bring back an old conversation but I do want to add my response to this question.
When it comes to the younger generation now living independently there are quite a few factors that could lead them to this decision. Firstly student debt is now the norm and you have these adults graduating with a mountain of debt; not to mention that a lot of these university degrees don't have careers at the end of them. So if the young adults aren't making the money, they aren't paying off their student loans and a mortgage on a house is out of the question. Worst case scenario though.
It's not necessarily apartment living but multi-housing lifestyle that's coming into a young professional's consideration. It's not limited to apartments but condos, townhouses, attached homes, low-rise, high-rise, and everything inbetween. Not every highrise tower isn't community oriented; a knit community really depends on the kind of demographic that the area seems to attract. I hate to throw a comparison in that no one is going to understand but in Winnipeg the Wolesley neighbourhood is filled with hipsters and attracts that kind of a demographic so that neighbourhood is more community oriented than others in that city. There are also many advantages to multi-housing living versus single-family living, so let's compare!
In a multi-housing unit you pay per month (either by rent or condo fees) services and amenities that could include repairs, a swimming pool, gym, lawn/snow management. Multi-housing units are ideally located near shops, frequently serviced transit routes, and the like. In an ideal multi-living situation you would prefer taking public transportation (saving you BIG money on a car (plus gas)), save money on a gym membership (maybe), and not be trapped in a real estate property for a long time via a mortgage. Also ideally, a multi-housing complex is located nearby entertainment venues a walk away.
I have lived in Winnipeg, Toronto, and now Vancouver and I really don't know what the more dense parts of Halifax are like so the advantages of living in a dense neighbourhood over there, may not have became apparent yet. But as a young professional (who is NOT in debt because it gave me anxiety lol) I have to cut costs in order to really live the GOOD years the way I want to. I travel, I go out and enjoy the nightlife, I am a part of a busy city but I'm also financially smart about it.
I feel that the whole "house with a white-picket fence" is an outdated dream. And I would even say that in a lot of ways, it was an ultimatum for that generation. House prices anywhere in Canada are expensive to the point where younger people really have to decide if it is what they want from life. For some people it will be the right decision, but for others, not so much.
To me the younger generation is thinking outside of the house. That lifestyle may not suit them. You can raise a family in the right apartment/condo. It's just the difference of whether you want to shovel your own driveway and revolve your life around a piece of property (for the most part).
And that's my two cents