A growing number of Canadians are putting plans to buy a home on hold, according to a new poll from Scotiabank.
A for sale sign outside a home indicates that it has been sold, in Ottawa, on Monday, March 1, 2021.
Amid record-high prices, a growing number of Canadians are putting plans to buy a home on hold, according to a new poll from Scotiabank. “It's no surprise that a perfect storm made up of the rising cost of living, housing supply shortages, and increased demand has caused Canadians to feel like homeownership is out of reach,” John Webster, Scotiabank’s head of real estate and secured lending, said in aPublished on Monday, the 2022 Scotiabank Housing Poll says 43 per cent of Canadians are now putting plans to buy a home on hold, compared with 33 per cent in 2021, and 20 per cent in 2020.
Younger Canadians seem to be feeling even worse about the housing market. According to the survey, 56 per cent of respondents ages 18 to 34 said the current economic environment had led them to halt plans to purchase a home, while 62 per cent said they were waiting for prices to fall before buying. There are no indications prices will drop any time soon. The latest data from the Canadian Real Estate Association shows the
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