Community Journalist: Adrian Reece
Skyrocketing gas prices are further stretching the spending power of Canadians. People all over the world are discussing the rising price of oils and petrol, however the Canadian economy has long since been problematic with rising costs of living, now adding on another necessary expense that is draining the accounts of working-class Canadians.
It is becoming unbearable to reside in Canada, particularly Toronto and Vancouver, which are ranked as some of the most expensive cities in the world to live before gas prices began rising.
Turmoil in the east part of the world are affecting Canadian Livelihood. Gas has risen to somewhere around $1.60 for regular gas, with premium prices reaching well over the $2.00 mark.
What does this mean for citizens? Less driving, less commitment to going out and spending money, because the gas that is required to get there just isn’t worth it in most cases. More people may begin to rely on public transit or ride share such as uber and Lyft to get to their destinations.
These are just temporary measures, with more people opting to stay inside and the rising cost of uber and Lyft prices, many people simply cannot afford to enjoy the cities they live in. Not only is the Canadian government doing everything it can to make things harder for their citizens, in particular the Premier of Ontario Rob Ford whose decisions cause Canadians to struggle more each day, along with the reigning government party that is allocating enormous amounts of funding to foreigners and overseas interests. Canadians are left to struggle.
The mortgage rates for the housing market are beginning to come down, that is a positive thing considering everything else that is rising. However, this doesn’t bode well for current homeowners, who have purchased their homes at incredible prices, and now seeing their property value fall the way it has is disheartening all around.
The current generation is dealing with so much instability, along with all the promises of success that were taught at an early age are falling through the cracks and are looking like lies, because nothing that was promised is coming to fruition. There are more people living at home with their parents than ever before.
Most young adults are searching for independence that is out of reach for many millennials. Currently cost of living, the housing market, gas prices, OSAP repayment rates and grocery prices are bleeding this generation dry. Working class citizens are drowning under debt and inflated prices, and the government is publicly spending money outside of the country instead of pouring those funds into infrastructure that can create a prosperous country and living situation for everyone here.
Leaders have stated that this is the new norm for Canadians, further reinforcing that the regular people who make an average income are left on their own to figure out how to navigate the world that we live in. The alternative is to abandon the city and take up residence in another province that is cheaper or, to move out of the country to somewhere your dollar goes even further.
The next few years will reflect a lot of the decisions that leadership has made, and how Canadians will cope is currently an individual decision that weighs heavily on each person living in Canada.