Young Canadians are becoming less hopeful about the future.

Over the past decade, hopefulness among people aged 15 to 29 has dropped sharply, falling by roughly 15% since 2016. In just one year, the share of young people reporting high life satisfaction fell from nearly half to just 40%.

Why? Affordability pressures are taking a toll. As Statistics Canada puts it: "The rising cost of living is forcing some to make major sacrifices."

High housing costs and rising prices for everyday necessities are making it harder for young people to reach basic milestones — like saving money, building a career, or starting a family. Many have little left over after covering essentials.

These pressures contribute to deteriorating outcomes on other quality of life measures as well. Fewer Canadians aged 15 to 29 have reported a very strong or somewhat strong sense of belonging to their local community compared with those over the age of 45. Youth aged 15 to 29 consistently report feeling lonely more often than those in older age groups.

These challenges don't disappear as young people age. For many, they are ongoing — and may permanently hinder their access to a standard of living in adulthood that they may have expected while growing up.

This is what it looks like when the foundations of a good life become harder to secure.