Many Canadians feel homeownership is out of reach, poll finds [Financial Post (Toronto, Ontario, Canada)]
Canadian Imperial Bank of Commerce (CM)
Last canadian imperial bank of commerce earnings: 2/26 05:53 am
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Source: Financial Post
A large majority of Canadians who do not own property believe homeownership is currently unachievable, according to a recent poll conducted by Canadian Imperial Bank of Commerce Even though 56 per cent of non-owners aspire to one day have their own home, the survey found 76 per cent of them feel that goal is out of reach. Article content The survey highlights key obstacles hindering prospective buyers, with 70 per cent citing overpriced markets and 63 per cent pointing to the inability to save for a down payment as major barriers. Additionally, only 28 per cent of non-owners are currently setting aside funds to buy. Article content “Housing affordability is a challenge across the country and many Canadians could use guidance on how to make their homeownership dream a reality,” CIBC's vice-president of financial planning and advice, Carissa Lucreziano, said in the report. “About 80 per cent of those we surveyed said they need advice to help them navigate the market.” The s
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