[URBAN NOTE] On how the housing price crunch might chase young workers out of Toronto
CBC News' Chris Glover reports on a recent roundtable that surprised some Toronto employers with the news that high real estate prices might drive their workforces out of the city.
[26 year old Wattpad employee Sarah Robinson] shares her 400-square-foot condo in the St Lawrence Market neighbourhood with her boyfriend, but she's looked at places throughout the GTA and said she may need to widen her search outside the GTA, especially once she is ready to start a family.
"It's not insurmountable, but it`s definitely a real fear for bosses," she said, about possibly having to relocate outside driving distance to her downtown firm's office. "And the bosses lose out on young talent and we have a lot to offer."
That was a concern echoed by a couple of young people who spoke at the housing roundtable, which was chaired by Mayor John Tory. It was part of a three-city initiative, with roundtables held Monday in Vancouver and Edmonton as well..
Wattpad co-founder and CEO Allen Lau said it was "a real-eye opener" and he can't help but fear the possibility of an exodus of young talent that his business thrives on.
"It's becoming increasingly concerning," Lau said. "If people have to move out of the city they might not be able to work at my company anymore, or they may have to spend hours and hours in commutes because they just can`t afford to live in the city."
[26 year old Wattpad employee Sarah Robinson] shares her 400-square-foot condo in the St Lawrence Market neighbourhood with her boyfriend, but she's looked at places throughout the GTA and said she may need to widen her search outside the GTA, especially once she is ready to start a family.
"It's not insurmountable, but it`s definitely a real fear for bosses," she said, about possibly having to relocate outside driving distance to her downtown firm's office. "And the bosses lose out on young talent and we have a lot to offer."
That was a concern echoed by a couple of young people who spoke at the housing roundtable, which was chaired by Mayor John Tory. It was part of a three-city initiative, with roundtables held Monday in Vancouver and Edmonton as well..
Wattpad co-founder and CEO Allen Lau said it was "a real-eye opener" and he can't help but fear the possibility of an exodus of young talent that his business thrives on.
"It's becoming increasingly concerning," Lau said. "If people have to move out of the city they might not be able to work at my company anymore, or they may have to spend hours and hours in commutes because they just can`t afford to live in the city."