Roughly a third of Canadian first-time homebuyers have needed help from a family member to finance their entry into the housing market, new polling suggests.
Roughly a third of Canadian first-time homebuyers have needed help from a family member to finance their entry into the housing market, new polling suggests.
I want to believe that this unsustainable behaviour will have to end, so house prices can fall, but that has been my hope for years.
I agree, this has been a long time coming, it would be great if we could see a 50 year trend on this.
In the 90s, GenX in Canada felt that ‘ the bank of mummy and daddy’ was the only way most people could afford home ownership. Intergenerational inequality was a hot topic.
The booming market and low minimum down payments in the 2000s seemed to turn it around, but it wasn’t sustainable.