By Staff The Canadian Press
Posted June 23, 2022 6:21 am
Updated June 23, 2022 6:23 am
2:02 Rising involvement rates, indebtedness spur Canadian homebuyer’s remorse
A caller survey finds astir fractional of Canadian who rent volition proceed to bash truthful indefinitely and aren’t definite erstwhile they’ll beryllium capable to get into the housing market.
Renters surveyed by security steadfast Canada Life cited a deficiency of cash, fearfulness and uncertainty arsenic reasons for staying connected the sidelines, with astir 73 per cent saying its a atrocious clip to bargain a location and 17 per cent saying they’ll ne'er bargain one.
While 79 per cent of respondents judge location ownership is simply a bully investment, 64 per cent don’t deliberation they’ll beryllium capable to bargain a location unless they person fiscal enactment from others similar household members.
The survey besides finds that Canadians betwixt 25 and 29 are 2 times much apt to proceed renting indefinitely compared to those aged 30 to 49.
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0:46 1 successful 4 homeowners accidental rising owe rates could propulsion them to sell: survey
Current homeowners are besides feeling the pressure, with 24 per cent saying they consciousness location poor, the survey finds.
As the Bank of Canada continues to hike involvement rates, homeowners could look adjacent much symptom arsenic owe payments ascent higher.
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