Jun 23, 2022
By Jane Brown
It appears nearly half of Canadians who rent will continue to do so indefinitely and are not sure when they will be able to get into the housing market.
Renters surveyed by Canada Life cite a lack of cash, fear and uncertainty as reasons for staying on the sidelines, with almost 73 percent saying it’s a bad time to buy a house and 17 percent saying they will never buy one.
While nearly 80 per cent of respondents believe home ownership is a good investment, close to two-thirds don’t think they’ll be able to buy a house unless they have financial support from others like family members.
The survey also finds Canadians between 25 and 29 are two times more likely to continue renting indefinitely compared with those between the ages of 30 to 49.