Some 26 per cent of Canadians aged 18 to 34 own a home today, down from 47 per cent in 2021, according to new Scotiabank polling released Tuesday.
Canadians have faced financial hurdles in the past few years, from rising inflation to higher interest rates and it's leaving some, especially those under 35 concerned about their futures. A recent report from Statistics Canada shows that as debt levels rise, these Canadians are facing the biggest pinch, and barriers to homeownership could be one of the key factors — especially for those hoping to improve their standards of living. Sean Previl reports.
At the same time, 29 per cent of respondents in that age group reported they were living at home with parents or family, up nine percentage points from three years ago. The number of renters was similarly higher among youth, up to 43 per cent from 29 per cent in 2021.Despite incremental improvements in some markets over recent months, housing affordability has largely worsened across Canada in the past few years.
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