Over a Quarter of Renters Plan to Buy a Home Within Two Years: Survey

Over a quarter of Canadians who are renting say they plan to buy a home in the next two years, according to a recent survey. The Royal LePage survey found that 27 percent of renters had plans to buy a home in the next 24 months. That number jumps to 40 percent for those aged 18 to 34. However, 69 percent of renters said homeownership was not in the plans for the near future. The main reason was they didn’t earn enough money to get a home in the area they wanted to live, according to the survey. “The rental sector is not immune to the significant affordability challenges stemming from Canada’s acute housing shortage,” president and chief executive officer at Royal LePage Phil Soper said....