"I never expected to own a home. I wasn't born into generational wealth. I grew up poor. There was-and is-no big family inheritance coming my way. Not property. Not cash. Not stocks or bonds or whatever financial instrument one might trade or sell or leverage to join the landed class."
"The homeownership rate for those aged twenty-five to forty-four peaked four decades ago. Then, between 2011 and 2021, it fell by at least five points."
"Since 2000, the cost of homeownership in Canada has risen 300 percent, making it increasingly difficult for younger generations to achieve this goal."
Homeownership has become increasingly unattainable for younger Canadians, particularly those aged 25 to 44, with rates declining since their peak four decades ago. The cost of homeownership has surged by 300% since 2000, exacerbating the challenges faced by individuals without generational wealth or significant professional success. Many express frustration over the disparity in homeownership rates and the financial burdens that come with it, leading to a sense of resignation about their future prospects in the housing market.
Read at The Walrus
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