Title: percentage of millennials who own a home by country
Post by: Anonymous on May 03, 2018, 08:26:35 PM
Post by: Anonymous on May 03, 2018, 08:26:35 PM
The two-year investigation, chaired by a former Conservative cabinet minister, found that home ownership among Britain's millennials is in crisis.
In many parts of the U.K., the ownership rate among 25- to 34-year-olds is half what it was in the 1980s, dropping from around 50 per cent to around 25 per cent. In outer London, only 16 per cent of millennials own their own home, down from 53 per cent among the same age group in 1984.
(And that's despite the fact that British homebuyers, much like their Canadian counterparts, are getting plenty of help from their parents with the down payment.)
Britain's millennials are spending more on housing, facing longer commutes and living in smaller spaces than their parents at the same age, the investigation found.
A recent inquiry into home ownership in Great Britain should serve as a warning to Canadians.
The two-year investigation, chaired by a former Conservative cabinet minister, found that home ownership among Britain's millennials is in crisis.
In many parts of the U.K., the ownership rate among 25- to 34-year-olds is half what it was in the 1980s, dropping from around 50 per cent to around 25 per cent. In outer London, only 16 per cent of millennials own their own home, down from 53 per cent among the same age group in 1984.
(And that's despite the fact that British homebuyers, much like their Canadian counterparts, are getting plenty of help from their parents with the down payment.)
Britain's millennials are spending more on housing, facing longer commutes and living in smaller spaces than their parents at the same age, the investigation found.
Policymakers in Canada should take note. The situation here is not nearly as dire, but with house prices soaring in many parts of the country over the past decade, Canada now runs the risk of seeing a similar phenomenon take place.
The 2016 census found that, for the first time in decades, Canada's homeownership rate is declining — albeit from record highs. The survey found 50.2 per cent of 30-year-olds owned their own home in 2016, down from 55 per cent among baby boomers a generation earlier.
It's not just housing, but everything is more expensive.
Title: Re: percentage of millennials who own a home by country
Post by: Bricktop on May 03, 2018, 08:36:22 PM
Post by: Bricktop on May 03, 2018, 08:36:22 PM
Travel, social life, trinkets and partying are their priorities.
Most of their parents own properties, and they know they only need to bide their time.
And many are living in their parents home.
Title: Re: percentage of millennials who own a home by country
Post by: Anonymous on May 03, 2018, 08:39:09 PM
Post by: Anonymous on May 03, 2018, 08:39:09 PM
Millenials are less interested in buying homes.Quote from: "Bricktop"
Travel, social life, trinkets and partying are their priorities.
Most of their parents own properties, and they know they only need to bide their time.
And many are living in their parents home.
I'd like to see a survey about millennials attitudes to home ownership.
Title: Re: percentage of millennials who own a home by country
Post by: Bricktop on May 03, 2018, 08:42:10 PM
Post by: Bricktop on May 03, 2018, 08:42:10 PM
Its "meh".
Title: Re: percentage of millennials who own a home by country
Post by: Blazor on May 03, 2018, 09:00:36 PM
Post by: Blazor on May 03, 2018, 09:00:36 PM
Title: Re: percentage of millennials who own a home by country
Post by: Anonymous on May 03, 2018, 09:02:56 PM
Post by: Anonymous on May 03, 2018, 09:02:56 PM
Title: Re: percentage of millennials who own a home by country
Post by: Bricktop on May 03, 2018, 09:03:06 PM
Post by: Bricktop on May 03, 2018, 09:03:06 PM
Title: Re: percentage of millennials who own a home by country
Post by: Blazor on May 03, 2018, 09:04:05 PM
Post by: Blazor on May 03, 2018, 09:04:05 PM
True. Rising real estate prices are insane. Why does a house become more valuable?Quote from: "Bricktop"
Not so much the home, as it is the grass it sits on these days.
Title: Re: percentage of millennials who own a home by country
Post by: Bricktop on May 03, 2018, 09:06:07 PM
Post by: Bricktop on May 03, 2018, 09:06:07 PM
Title: Re: percentage of millennials who own a home by country
Post by: Anonymous on May 03, 2018, 09:08:24 PM
Post by: Anonymous on May 03, 2018, 09:08:24 PM
True. Rising real estate prices are insane. Why does a house become more valuable?Quote from: "Bricktop"
demand
Title: Re: percentage of millennials who own a home by country
Post by: Bricktop on May 03, 2018, 09:09:48 PM
Post by: Bricktop on May 03, 2018, 09:09:48 PM
Title: Re: percentage of millennials who own a home by country
Post by: Anonymous on May 03, 2018, 09:12:18 PM
Post by: Anonymous on May 03, 2018, 09:12:18 PM
Which fluctuates. What goes up, can come down.Quote from: "Bricktop"
Years of low interest rates and low down payment rules for first time home owners have seen demand increase for long time in this country.
Title: Re: percentage of millennials who own a home by country
Post by: Xlam on May 03, 2018, 11:17:27 PM
Post by: Xlam on May 03, 2018, 11:17:27 PM
(//%3C/s%3E%3CURL%20url=%22https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AAwBJ0z.img?h=850&w=874&m=6&q=60&o=f&l=f%22%3E%3CLINK_TEXT%20text=%22https://img-s-msn-com.akamaized.net/ten%20...%2060&o=f&l=f%22%3Ehttps://img-s-msn-com.akamaized.net/tenant/amp/entityid/AAwBJ0z.img?h=850&w=874&m=6&q=60&o=f&l=f%3C/LINK_TEXT%3E%3C/URL%3E%3Ce%3E)A recent inquiry into home ownership in Great Britain should serve as a warning to Canadians.
The two-year investigation, chaired by a former Conservative cabinet minister, found that home ownership among Britain's millennials is in crisis.
In many parts of the U.K., the ownership rate among 25- to 34-year-olds is half what it was in the 1980s, dropping from around 50 per cent to around 25 per cent. In outer London, only 16 per cent of millennials own their own home, down from 53 per cent among the same age group in 1984.
(And that's despite the fact that British homebuyers, much like their Canadian counterparts, are getting plenty of help from their parents with the down payment.)
Britain's millennials are spending more on housing, facing longer commutes and living in smaller spaces than their parents at the same age, the investigation found.
A recent inquiry into home ownership in Great Britain should serve as a warning to Canadians.
The two-year investigation, chaired by a former Conservative cabinet minister, found that home ownership among Britain's millennials is in crisis.
In many parts of the U.K., the ownership rate among 25- to 34-year-olds is half what it was in the 1980s, dropping from around 50 per cent to around 25 per cent. In outer London, only 16 per cent of millennials own their own home, down from 53 per cent among the same age group in 1984.
(And that's despite the fact that British homebuyers, much like their Canadian counterparts, are getting plenty of help from their parents with the down payment.)
Britain's millennials are spending more on housing, facing longer commutes and living in smaller spaces than their parents at the same age, the investigation found.
Policymakers in Canada should take note. The situation here is not nearly as dire, but with house prices soaring in many parts of the country over the past decade, Canada now runs the risk of seeing a similar phenomenon take place.
The 2016 census found that, for the first time in decades, Canada's homeownership rate is declining — albeit from record highs. The survey found 50.2 per cent of 30-year-olds owned their own home in 2016, down from 55 per cent among baby boomers a generation earlier.https://www.msn.com/en-ca/money/homeandproperty/hey-canadian-millennials-heres-proof-you-missed-out-on-buying-a-house/ar-AAwBJ0B?li=AArWeBz&ocid=mailsignout
It's not just housing, but everything is more expensive.
I have a novel idea. Maybe if we took all the millennials and made them each eat 1000 popscicles, you know the ones with the wooden sticks. Then, we could relocate all the French and French Canadians to Victoria Island. With all that free space and popsicle sticks each person could have their own little shack.
Sounds simple enough to me.
Title: Re: percentage of millennials who own a home by country
Post by: Anonymous on May 03, 2018, 11:18:46 PM
Post by: Anonymous on May 03, 2018, 11:18:46 PM
Title: Re: percentage of millennials who own a home by country
Post by: Angry White Male on May 04, 2018, 11:16:26 AM
Post by: Angry White Male on May 04, 2018, 11:16:26 AM
Rich Hongers have been allowed to flood in here, jacking up the prices. A small run down crack shack now sells for a million dollars minimum.
Our minimum wage is $10/hour.
Do the maths...
Title: Re: percentage of millennials who own a home by country
Post by: cc on May 04, 2018, 01:37:37 PM
Post by: cc on May 04, 2018, 01:37:37 PM
Where's Victoria island?Quote from: "Fashionista"
LOL. Not sure if he or she meant to say Van Island, BUT there actually is a Victoria Island off in the boonies that I suspect he or she never heard about
Victoria Island (or Kitlineq) is a large island in the Canadian Arctic Archipelago that straddles the boundary between Nunavut and the Northwest Territories of Canada. It is the eighth largest island in the world,
Title: Re: percentage of millennials who own a home by country
Post by: Anonymous on May 04, 2018, 01:56:52 PM
Post by: Anonymous on May 04, 2018, 01:56:52 PM
Where's Victoria island?Quote from: "Fashionista"
LOL. Not sure if he or she meant to say Van Island, BUT there actually is a Victoria Island off in the boonies that I suspect he or she never heard about(//%3C/s%3E%3CURL%20url=%22https://upload.wikimedia.org/wikipedia/commons/thumb/0/01/Wfm_victoria_island.jpg/1200px-Wfm_victoria_island.jpg%22%3E%3CLINK_TEXT%20text=%22https://upload.wikimedia.org/wikipedia/%20...%20island.jpg%22%3Ehttps://upload.wikimedia.org/wikipedia/commons/thumb/0/01/Wfm_victoria_island.jpg/1200px-Wfm_victoria_island.jpg%3C/LINK_TEXT%3E%3C/URL%3E%3Ce%3E)
Victoria Island (or Kitlineq) is a large island in the Canadian Arctic Archipelago that straddles the boundary between Nunavut and the Northwest Territories of Canada. It is the eighth largest island in the world,
Perhaps Lance might want to move there.
Title: Re: percentage of millennials who own a home by country
Post by: Angry White Male on May 04, 2018, 02:19:11 PM
Post by: Angry White Male on May 04, 2018, 02:19:11 PM
Title: Re: percentage of millennials who own a home by country
Post by: cc on May 04, 2018, 02:20:03 PM
Post by: cc on May 04, 2018, 02:20:03 PM
Perhaps Lance might want to move there.Quote
Well, he's be free from all of us baaaaaad people
Title: Re: percentage of millennials who own a home by country
Post by: cc on May 04, 2018, 02:25:53 PM
Post by: cc on May 04, 2018, 02:25:53 PM
Yes, it's good for us as our condo has pretty much doubled in price in 3 years but not good for so many trying to start a decent life and live somewhere near where they work
Title: Re: percentage of millennials who own a home by country
Post by: Angry White Male on May 04, 2018, 02:28:47 PM
Post by: Angry White Male on May 04, 2018, 02:28:47 PM
Title: Re: percentage of millennials who own a home by country
Post by: Anonymous on May 05, 2018, 01:34:33 AM
Post by: Anonymous on May 05, 2018, 01:34:33 AM
As to home ownership, I feel bad and pessimistic for genuine young people trying to make a genuine life.Quote from: "cc"
Yes, it's good for us as our condo has pretty much doubled in price in 3 years but not good for so many trying to start a decent life and live somewhere near where they work
The situation in Alberta is different..
We have people who bought when prices peaked around the end of 2013 and their condos are worth less today..
Paying a mortgage on property that has tanked in price is painful.
Title: Re: percentage of millennials who own a home by country
Post by: Berry Sweet on May 05, 2018, 05:07:46 AM
Post by: Berry Sweet on May 05, 2018, 05:07:46 AM
Title: Re: percentage of millennials who own a home by country
Post by: Anonymous on May 05, 2018, 10:05:06 AM
Post by: Anonymous on May 05, 2018, 10:05:06 AM
As to home ownership, I feel bad and pessimistic for genuine young people trying to make a genuine life.Quote from: "cc"
Yes, it's good for us as our condo has pretty much doubled in price in 3 years but not good for so many trying to start a decent life and live somewhere near where they work
The situation in Alberta is different..
We have people who bought when prices peaked around the end of 2013 and their condos are worth less today..
Paying a mortgage on property that has tanked in price is painful.
Manitoba house prices always just moved along slowly until fifteen years or more ago. Than they rose quickly. There's no reason for it. We have low wages in this province.
Title: Re: percentage of millennials who own a home by country
Post by: Anonymous on May 05, 2018, 10:32:53 AM
Post by: Anonymous on May 05, 2018, 10:32:53 AM
As to home ownership, I feel bad and pessimistic for genuine young people trying to make a genuine life.Quote from: "cc"
Yes, it's good for us as our condo has pretty much doubled in price in 3 years but not good for so many trying to start a decent life and live somewhere near where they work
The situation in Alberta is different..
We have people who bought when prices peaked around the end of 2013 and their condos are worth less today..
Paying a mortgage on property that has tanked in price is painful.
Manitoba house prices always just moved along slowly until fifteen years or more ago. Than they rose quickly. There's no reason for it. We have low wages in this province.
I know, my brother lives in Manitoba..
But, not in Winnipeg though.