One out of four respondents from British Columbia and the Maritimes say they spend more than half their income on rent, according to Royal LePage report
Renters in the Maritimes and B.C. appear to be the most pessimistic of all Canadians about moving into home ownership, even as a quarter of them say they are spending more than half their income on rent, a new survey has found.
“I have executive couples living in basement suites, paying $2,500 for a one-bedroom, trying to put funds away for a down payment,” she said in an interview. The Royal LePage survey of 1,500 Canadians, conducted online between June 7 and 10 by Leger Opinion, showed other marked differences for renters in different parts of the country.In B.C., a quarter of renters hoping to buy in the next two years say they would use a family gift or an inheritance to make their down payment. In Ontario, that reliance is even higher: 37 per cent say they are counting on that kind of help.
Atlantic Canada and Quebec registered the lowest proportions of those thinking they will buy soon, at 22 per cent, although the situation in Quebec is likely a product of the prevalence of renting there and a lot of renter security – which means people feel less driven to buy in order to feel like they have stability.and Ontario appear to be at about the same levels when it comes to likelihood of buying. Sixty-one per cent of respondents in both B.C.
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