Younger Canadians are a despondent lot when it comes to their prospects of owning a home. Toronto-based Easy Home Renovation surveyed a thousand people under the age of 45 across the country and found a big percentage have abandoned any idea that they might one day become a homeowner.
Some of the numbers from this survey are stark. Only 6-percent of people in Vancouver believe they have a chance to own a home. That’s the lowest. Regina, on the other hand, is highest at 46-percent. Saskatoon ranks fifth for optimism among Gen Z and Millennials.
At the provincial level, Saskatchewan ranks third behind Newfoundland and Labrador as well as Quebec on the optimism scale. Only 12-percent – just one-in-eight people – feel that way in Ontario.
Despite tons of time and money being spent by politicians on how they are trying to resolve these problems plus falling interest rates, government inaction is cited by the survey respondents as the number of one reason young people are facing the prospect of a lifetime of renting.
