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Millennials and Gen Z Hold onto Homeownership Hopes Despite Market Challenges, Scotiabank Poll Reveals
Millennials and Gen Z Hold onto Homeownership Hopes Despite Market Challenges, Scotiabank Poll Re...
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[{"type":"text","content":"\n\n\n\n Millennials and Gen Z Hold onto Homeownership Hopes Despite Market Challenges, Scotiabank Poll Reveals\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen3{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; TEXT-ALIGN: RIGHT; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n Over half of Millennials and Gen Z (58%) plan to buy their first home within five years, with a strong\n \n demand for clear and accessible guidance to help achieve their homeownership goals.\n \n\n\n\n\n TORONTO\n \n\n ,\n \n\n Oct. 29, 2024\n \n\n /CNW/ - The dream of homeownership is alive amongst younger Canadians according to the latest Scotiabank Housing Poll. Despite more than half of Millennials\n \n 1\n \n\n (55%)\n \n and Gen Z\n \n 2\n \n\n (58%)\n \n feeling that buying a home is unattainable, a majority\n \n (58%)\n \n of Canadians aged 18 to 43 are still determined to purchase a home within the next five years.\n \n\n\n\n\n\n\n\n\n With the economic environment continuing to evolve, including a decrease in interest rates for the first time in over four years, over half of Millennials and Gen Z (\n \n 56%\n \n ) still report the current economy is negatively impacting their finances causing many to delay their home-buying plans. Concerns about the impact of the economy on home-buying plans have grown since 2021 (+12%), particularly among older Canadians (+16%), with affordability concerns among younger Canadians (18-34) remaining steady over the years. Despite this concern and the fact that homeownership has declined amongst younger Canadians (18-34) in recent years, this cohort's long-term plans to buy a home remain largely unaffect...