Home Ownership Challenges
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 homeownership rate has dropped significantly over the past decade, with a 12% decrease for 30 to 35-year-olds and a 9% decrease for 34 to 39-year-olds between 2011 and 2021.
Specifically, the homeownership rate for 25 to 29-year-olds decreased from 44% to 36% during the same period.
Author's summary: Young people face significant challenges in buying homes.
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