Harder for Gen Y First-Time Home Buyers to Get Into Market?

Andrew MacLeod is part of demographic that apparently is being priced out of Canada’s housing market, but that didn’t prevent the 34-year-old from finding a way to buy his first home.

MacLeod and his wife, 33, overcame current economic hurdles such as high property prices, tighter lending conditions and shaky job markets to purchase their four-bedroom, two storey semi-detached house in Ottawa’s Lindenlea neighbourhood, which MacLeod cheekily describes as the “rattier” end of the posh Rockliffe Park area.  Read More…

This article has 5 Comments

  1. Caleb K.

    I find that most young couples prefer to rent to own and not buy and deal with the hassles of home buying.

  2. Lucero R

    if i recall CRA offers first time home buyers a very nice incentive like borrowing against your RRSP.

    There are also great credits and tax breaks 🙂

  3. Taylor Rochet

    Very good read. I have found TD Canada Trust has denied us a few times and its likely because we are Gen Y.

  4. Westley Durdorff

    Seems very risking to buy homes at this stage via mortgages from banks. Here in Vancouver we are in a bubble and so now is not the time.

  5. Leland Wilber

    Am i too late seeing as how i have only rented and i am in my 40s 🙁

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