Are We Becoming a Nation of Renters?
Data across Canada and the US show that home ownership rates among millennials (adults 18 to 35 years old) has dropped to a 20 year low. The reasons include low rates of marriage (a driver of home ownership), high prices, and lingering effects of the recession.
Does that mean our youngest millennials are doomed to miss out on the intrinsic value of owning their own home? Probably not. In my opinion, between flattening home prices, rising rents, and growing families, even millennials will soon be sinking down roots in a home of their own.
Rather than assuming that renting is the better option, contact me for a consultation for yourself or someone you know. Let’s see what’s possible before giving up on the dream of owning.