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

8 in 10 Millennials Intend to Buy in 5 Years

About a third (34%) of millennials (Canadians born in the 80s and 90s) are homeowners, finds a new HSBC survey.

Of those who don’t own, 82% plan to buy in the next five years. But there’s a minor problem:  70% of them haven’t saved enough for a down payment.

Enter the parental units.

Dependent supporters are rushing to the rescue of a small chunk of newbie buyers. 

If history is a guide, in 2017:

  • roughly 37% of millennials will take parental support for part or all of their down payment
  • about 21% will move back in with the ‘rents to save their down payment (recent empty-nesters, don’t turn your basements into storerooms just yet).

For millennials who can’t qualify for a mortgage (for example, who don’t pass the government’s new 4.64% stress test):

  • 59% would “consider” spending less on leisure and going out
  • 37% say they’d consider a smaller than ideal home
  • 30% would consider delaying children.

So there we have it, more casualties from the new mortgage rules: theme parks, bars and child-care workers. Bet that wasn’t an “intended consequence.”


Daily Fact: Twice as many millennials in China own a home; 70%, versus 34% here in Canada. 

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