Quote:
Originally Posted by blankall
I think a lot of the whining these days is directed at the fact that in many parst of the country owning that duplex is not a reasonable goal for many working people.
You're also using your parents life as an example. Your not taking the example from own generation. Like I said before, maybe taht is the issue, we are using a generation that was unsustainable as a measuring stick.
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The percentage of adult Canadians owning their own home has never been higher, closing in on 70%.
http://www.canadapersonalfinancewebs...heir-own-homes
No surprise, as per the statscan link below, the likelihood of an adult Canadian owning their own home increases with age.
http://www.statcan.gc.ca/pub/11-008-.../10314-eng.htm
Why are you under the assumption that a "young" Canadian should be able to own a home?
How is the notion that you have to find an occupation, settle into it, begin building a career, save sufficient monies for a downpayment and then have a qualifying income stream to support a mortgage . . . . all somehow different than the process prior generations had to go through?
I bought my first home, I believe, at roughly age 26, admittedly a bit of a sweetheart deal from the mother-in-law in a smaller town and then bought my first serious home in Calgary at about age 30. Which is pretty much in the zone of likelihood described in the statscan study.
My father, born in the Depression of the 1930's, built that duplex in 1962 when he turned 30 years old.
Cowperson