Young Canadian homeownership declines to 26% amid confidence gap and financial challenges.
A Scotiabank report shows homeownership among young Canadians (18-34) has declined from 47% in 2021 to 26%. Despite this, 58% of non-homeowners aged 18-43 plan to buy within five years. The report highlights a "confidence gap," with 63% of Gen Z and 54% of millennials seeking clearer guidance from financial institutions. Economic challenges are affecting finances for over half of this age group, contributing to postponed home-buying plans.
October 29, 2024
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