Canadians eager for homeownership, but down payments present another hurdle: report
BNN Bloomberg
NerdWallet Canada’s 2024 Canadian Home Buyer Report, released Wednesday, found 49 per cent of Canadians plan on buying a home within the next five years, though most appear willing to wait out the high interest rates, as only 11 per cent plan on buying in the next 12 months.
NerdWallet Canada’s 2024 Canadian Home Buyer Report, released Wednesday, found 49 per cent of Canadians plan on buying a home within the next five years, though most appear willing to wait out the high interest rates, as only 11 per cent plan on buying in the next 12 months.
“Though it’s not entirely realistic, the strong desire to buy speaks to how much Canadians value owning their own home,” Clay Jarvis, NerdWallet’s mortgage and real estate expert in Canada, wrote in the report.
Though high real estate prices and interest rates present significant barriers to homeownership, the survey shows down payments may also be an issue.
