Calgarians' hope for financial future is fading, new report suggests

A new report suggests that financial stressors are impacting how Calgarians see their lives in the city, as well as the hope people have for its economic future.

An annual temperature check on life in Calgary, the 2024 Quality of Life Report's theme is about just getting by. Using imagery of pipes held together with duct tape and storm clouds over a weathered fence, the picture the latest report paints is clear people feel strained.

The research is conducted on behalf of the Calgary Foundation, and it says this year's report tells the story of a city divided in two, split by the "haves and have nots."

"The big thing right off the top is that overall quality of life has declined 61 per cent of Calgarians told us that they would rate their quality of life as 'good' or 'excellent,' and that is down from 75 per cent right at the start of the pandemic in 2020," Taylor Barrie, vice-president of communications with the Calgary Foundation, told the Calgary Eyeopener on Thursday.

"We're seeing a significant shift in that overall quality of life ranking."

The Calgary Foundation's 2024 Quality of Life Survey, conducted by DDL Analytics, polled 1,000 randomly selected Calgarians and has a margin of error of plus or minus 3.1 per cent, 19 times out of 20.

"I think there's a general sense with people not everyone of increasingly being squeezed," said Dean Curran, assistant professor of sociology with the University of Calgary.

Curran says there's a feeling of precarity among many Calgarians, and he attributes the lowered quality of life ratings to what he calls economic and political malaise.

For most people, he says, wages haven't kept up with inflation. Along with high interest rates and a spike in youth unemployment, these are financial stressors that could be influencing this gloomy quality of life outlook.

Larger themes from this report include concerns around affordability such as housing and food costs as well as worries around safety and worsening self-reported mental health.

Affordability issues in the spotlight

In 2023, the survey indicated that 50 per cent of Calgarians were optimistic about the city's economy. This year, that number plummeted to only 35 per cent, prompting the report to suggest "hope for Calgary's financial future is fading."

Only 31 per cent of respondents in 2024 believe Calgary is an affordable city, and 43 per cent feel stress related to financial issues.

"It's worse if you're young," reads the report, as 57 per cent of people aged 18 to 24 said they experience financial stress.

The report also suggests the cost of living is impacting all age groups, as 48 per cent of respondents aged 55 to 64 can't afford retirement, while 28 per cent of those 65 and up can't either.

Anthony Groenesteyn, a senior, says he believes the cost of living is worse for young Calgarians today than in the past.

"I don't think I'd want to be young and try to get into the work market here, or rent. Rent is out of sight," he told CBC News on Thursday.

"Everybody knows the cost of living is way up there."

Groenesteyn says his quality of life isimpacted by the affordability crisis, and adds he still has to do some work here and there to subsidize his pension. He says, fortunately, his own rent isn't very expensive.

"I don't understand how people live on $15 an hour," said Groenesteyn.

"A lot of things should be changed."

78% of renters have to make sacrifices, says report

When it comes to housing, a topic that's been top of mind for many Calgarians over the past few years, the report says 80 per cent of renters saw their rent increase in 2024, and 78 per cent had to make financial sacrifices in other areas, a six per cent increase from the year prior.

What's more, 54 per cent of survey respondents who are employed full-time said they couldn't find suitable accommodation, up 14 per cent from 2023.

LISTEN | Calgary Foundation spokesperson discussesreport:

Calgary Eyeopener6:48New quality of life report

The Calgary Foundation's latest quality of life report paints a gloomy picture.

"All Calgarians will read this report and go and see themselves in it," said the foundation's Taylor Barrie, adding that renters are "bearing the brunt" of Calgary's affordability struggles.

The cost of living is something the Calgary Foundation's report suggests is also impacting nutritional choices, as more than a quarter of Calgarians surveyed can't afford healthy food. It's especially challenging for families with young children, the research indicates.

It's no doubt that the report places a harsh spotlight on financial woes, but that's not all 78 per cent of those surveyed don't feel safe walking alone downtown after dark, and 67 per cent are concerned about safety in Calgary.

Also, 60 per cent of people who are members of a racialized group think racism is growing in the city.

'A little bit of hope'

The 2024 Quality of Life report magnifies a lot of frustrations and fears that many Calgarians could be experiencing, however Barrie says it's not all bad.

The survey also indicates that Calgarians value the arts, people have found community and solace in the neighbourhoods they live in, and respondents said they valued relationships most, followed by health, then money.

"It's a dark report, but there's always a little bit of hope," said Barrie.

Calgarian Joanne Neweduk agrees. She says she loves the quality of life in the city, and that it's beautiful and welcoming.

"I made Calgary my home back in the '80s and I just found that it was always a big enough city to have all the amenities and really cool stuff to do, music and museums, but still small enough to have that small town feel and that friendliness," said Neweduk.

"I really love all the green spaces and being able to get out to the mountains in a heartbeat. So that's why it's been amazing for me."

Sociologist Curran believes there's always a risk that the concerns of a few have the potential to overshadow people's perceptions more broadly.

"This isn't a simple story where everything's getting worse," he said, adding that nuanced conversations are a necessary part of understanding the purpose of research like the Calgary Foundation's newest report.

"There are real stressors out there. It's important to identify specific stressorsand to look beyond the aggregated statistics. Average statistics will often hide how different people are being made more precarious in specific ways."