Young Canadians are holding fast to the dream of buying a home, even as overall rates of ownership are falling sharply, according to a new poll released by Scotiabank Tuesday.
The polling shows a steep decline in young homeowners over the past three years as housing unaffordability issues dogged would-be buyers. Some 26 per cent of Canadians aged 18 to 34 own a home today, down from 47 per cent in 2021, according to the poll.
At the same time, 29 per cent of respondents in that age group reported they were living at home with parents or family, up nine percentage points from three years ago. The number of renters was similarly higher among youth, up to 43 per cent from 29 per cent in 2021.
In Montreal, about 0.1% of the people own about 30% of the properties. Most of them are rich property investors. Many of which are real estate agents, too. They own the market.
As far as large cities in Canada go I was under the impression Montreal is among the more affordable ones too, so for the most part it only gets worse.
Yeah, it does.