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Posthaste: 'Forever renters:' Nine million Canadians have given up on homeownership

Sellers can expect fewer first-time homebuyers as over nine million Canadians doubt they will ever become homeowners.

According to a new report by Finder, a website for comparison shopping, some 29 per cent of adults aged 18 and older have either given up on homeownership or resigned themselves to being “forever renters.”

Finder’s “Generation Rent” survey found that the number of people who are uninterested in owning a home has risen significantly over the past few years. In fact, almost two million more Canadians are now reporting no interest in owning a home than were before the COVID-19 pandemic. More than five million adults (16 per cent) said they were no longer interested in becoming homeowners this year in comparison to only one in 10 in 2019. That’s a 60-per-cent increase in just three years.

Source: Financial Post

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