Younger homebuyers don’t want to max out on their mortgage payments, according to a recent TD survey. Could it be that Gen Xers have learned a few lessons from older home owners who qualify as house poor?

The survey found that Gen X Canadians overwhelmingly consider themselves “house plus” buyers who want enough flexibility in the budget to afford things like travel after their monthly payments. Just 14 per cent consider themselves “house all” buyers who go to the higher end of what they can comfortably afford when it comes to their mortgage, leaving less room for discretionary spending.

The findings reflect what many financial experts see in their daily dealings.  Read More…


  1. This is how i precisely viewed it too. Yes i have a mortgage but no way i am going to spend most of my earned dollars to pay it down while i am young while the rest of the world passes me by. I want to see the world. I travel a lot!

  2. 40-50% of take home pay? Are you serious? When its that much its time to rethink the value of owning.

    Traditionally, it should be 30%.

  3. Why don’t these kids just rent if they are more interested in travel and play? I am confused.

  4. Then why buy a home if you aren’t going to pay it off?

  5. There is still a boom in real estate and so buying and squatting is still a perfect strategy for the young which is what i think most do. Even RESPs are still the best out there to invest into.

  6. This goes to show how much people are ingrained to need to buy a home to feel normal but the dualing issue of wanting to be happy. If i am not mistaken this is cognitive dissonance since these gen x’ers found a compromise — they qualify as house poor.

    Lol! Quite clever actually.

  7. Most young people don’t realize you are entitled to a 1-time home owner benefit of using some of your RRSP to make a first home purchase without penalty.

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