Market Commentary - March 30, 2016
Market Commentary
Student debt, lackluster job prospects and skyrocketing prices do not appear to have diminished the dream of home ownership for that group of potential first-time buyers known as millennials.
A new survey conducted by Angus Reid for one of the big banks suggests 86% of 18 to 34 year-olds believe home ownership is important. Fifty-nine percent say it offers a sense of personal freedom. Currently 36% of millennials are home owners, 42% are renters and 21% live with their parents.
Eighty-five percent of Canadians, as a whole, believe home ownership is important. The majority cite the classic reasons: building equity and saving for retirement.
Tellingly though, the survey also suggests that nearly one in five Canadians (15%) do not think home ownership is important. Nearly half of the respondents (46%) say buying a home is too great a financial burden.
Lacking from the survey is any historical comparison so it is impossible to know whether any of these numbers are up or down from previous years.
Student debt, lackluster job prospects and skyrocketing prices do not appear to have diminished the dream of home ownership for that group of potential first-time buyers known as millennials.
A new survey conducted by Angus Reid for one of the big banks suggests 86% of 18 to 34 year-olds believe home ownership is important. Fifty-nine percent say it offers a sense of personal freedom. Currently 36% of millennials are home owners, 42% are renters and 21% live with their parents.
Eighty-five percent of Canadians, as a whole, believe home ownership is important. The majority cite the classic reasons: building equity and saving for retirement.
Tellingly though, the survey also suggests that nearly one in five Canadians (15%) do not think home ownership is important. Nearly half of the respondents (46%) say buying a home is too great a financial burden.
Lacking from the survey is any historical comparison so it is impossible to know whether any of these numbers are up or down from previous years.
