It is no surprise that millennials are following another path different from generations before. This is due to many factors but the main ones being focusing on their careers and high standard of living. Nowadays, literally everything is expensive. There is no way around that. And one of the things a lot of millennials are looking to do is buy homes for themselves. In order to that, majority of them are opting to live with parents and guardians, and hold off on starting their own families.
As of now, a little over 1/3 of young Canada own homes; over 37% of them had to lean on their parents financially in order to avoid their houses.
1/5 of them said that they had to move back home to be able to save up for a down payment; 60% of the millennials said that they wouldn’t mind spending a bit more conscientiously in order to save up for a property and 1/3 said that they would hold off on having kids for now to save.