Winnipeggers wanting to one day buy a home are 'trying to climb a hill that's just too steep'
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Owning a home may be out of reach for many Canadians according to new data from CIBC, and for one Winnipegger, the prospect of owning their own home is starting to feel like an impossible goal.
Owning a home may be out of reach for many Canadians according to new data from CIBC, and for one Winnipegger, the prospect of owning their own home is starting to feel like an impossible goal.
"It's kind of like trying to climb a hill that's just too steep," said 31-year-old Aaron Laferriere.
He's been renting for more than a decade. He does want to own a home one day, but feels like that's not in the cards.
"To own like a normal home that you see in the movies or shows that these people are living in, it like that doesn't even seem possible."
According to a new CIBC survey, 76 per cent of Canadians who don't own a home yet feel the same way.
The survey of more than 2,200 Canadians found overpriced markets and the inability to save for a down payment are the main barriers. Fifty-five per cent said they'll only be able to afford a home with inheritance or financial help from their family.
"Me and most of my friends in my generation, if you're not already born into a rich family or have dual income, it seems unfeasible," Laferriere said. "It seems not even possible to own a home."
