Nearly half of Canada’s millennials think owning a home is just ‘a pipe dream’

Although home ownership is challenging to accomplish for millennials due to increasing home costs, individual financial obligation and stagnant earnings, Ghoosi thinks otherwise.

— Margaret Rose (@rosebeefe) January 24, 2020

at 33, i may finally get occupant’s insurance coverage

— Mike Barber solemnly honouring ghostface (@mbarber86) January 24, 2020

Although 72 percent of millennials in KPMG’s research study mentioned their goals consist of owning a home, nearly half (46 percent) of the ones who have actually purchased a home depended on financial support from their papas and mommies to improve their deposit.

” The mix of increasing home prices, high levels of individual financial obligation and annual earnings that are just a fraction of the expense of purchasing a house compared with their moms and dads’ generation, is pressing the dream of house ownership out of reach for numerous millennials,” Martin Joyce, national leader for social and human services at KPMG, stated in a release.

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