Home Ownership Challenges for Young Canadians
According to real estate brokers, no generation in the past 30 years has faced a bigger challenge in buying a home.
A recent report by Re/Max Canada confirms that the current generation of property purchasers is facing significant obstacles.
the current cohort of property purchasers is facing among the most formidable headwinds yet
The report found that the homeownership rate for young Canadians has decreased significantly over the past decade. Specifically, the rate dropped from 44% to 36% for 25 to 29-year-olds between 2011 and 2021.
- 25 to 29-year-olds: 44% to 36% (2011-2021)
- 30 to 35-year-olds: almost 12% decrease
- 34 to 39-year-olds: almost 9% decrease
Author's summary: Young Canadians face significant challenges in buying homes.
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