How home prices are hitting education

Business leaders have previously expressed their concern at how the affordability issues in Vancouver and Toronto are impacting hiring potential but the education of young Canadians is also at risk.

New professors at universities in Canada’s hottest housing markets are struggling to find affordable housing and it’s leading to schools missing out on talent.

According to a report in the Globe and Mail, the University of BC lost 18 hires to other universities because of the cost of housing; and in Toronto universities have met to discuss the challenges.

Even with some schools offering staff assistance with mortgages, home prices are still out of the reach of most.

“If we don’t do anything, our position is that it’s a risk to remaining competitive,” Christine Burke, the director of campus and facilities planning at the University of Toronto told the Globe and Mail.

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