Housing for milléniaux precarious raise questions

COURTESY/NETWORK SELECTION

Francis Pilon

Tuesday, 6 march, 2018 21:22

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Tuesday, 6 march, 2018 21:22

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A building with 120 units for milléniaux in Montreal raises questions among the experts about the precariousness of this generation.

Concept created “by and for the milléniaux” from 20 to 35 years, the new real estate complex Yimby allows you to rent a condo “turnkey” from the month of July in the borough of Rosemont–La Petite-Patrie.

Network Selection, the company behind this project, and is specialized in the residential complex for retirees, offering to its tenants a personal apartment and common areas, multi-functional for organizing parties or even to work in spaces of “co-working”. The price of the units are around $ 990 to 2100 $ per month.

Precarization of the work

“This is the first time I see this kind of concept in Montreal, said Louis Goudreau, a researcher at the Institute of research and socio-economic information (IRIS). Normally, this is the kind of project that is proposed to people in end-of-life, and not to young professionals.”

According to him, building this type of building for part of the population also litter is a sign of the precariousness of their situation.

“The people of this generation live in the precariousness of employment, they do not have offices in which to work, they are freelance to the house and this type of accommodation give a false sense of insecurity enviable or a sort of defense transformation,” sorry Louis Gaudreau.

According to a study unveiled by the british daily “The Guardian” in 2016, average disposable income of Canadians in their early twenties is 20 % below the national average.

Same sound of bell on the side of Priscilla Ananian, a professor in the department of urban studies and tourism at the University of Quebec in Montreal (UQAM).

“With this project, it invests in micro-housing near everything. Why? Because the price of real estate is increasingly expensive and we are trying to adapt to the opportunities and resources for these young professionals who live a certain precariousness,” noted Ms. Ananian.

According to Statistics Canada, 50.2% of the milléniaux the age of 30 years were an owner of a unit in 2016, compared to 55.5 % of the baby boomers in 1981, at a time when they were the same age.

Transitional stage

Patrick Préville, director of public relations for Network selection, is aware that the project Yimby comes to the aid of the generation Y who does not roll on gold.

“Homes in Montreal are too expensive, he said. The milléniaux do not want to invest in a house or a condo for fear of getting into debt. However, Yimby enables these young people to put money aside, while living well, in the meantime become the owner later.”

Between 1987 and 2010 in Canada, the income of people aged 25 to 29 years were 4% lower compared to the national average. During this same period, the 65 to 69 years of age have seen their incomes rise by 5 % and their elders aged 70 to 74 years 16 %.