A new CIBC poll says Canadians who own a rental property earn about $2,189/month – 50 per cent more than their monthly costs – and those who rent out space in their home offset their housing costs by 70 per cent.
While millennials are optimistic about homeownership, many expect help in order to make their dreams a reality. Of Canadians 18-34 who are considering buying a home, 37 per cent expect help from a family member or friend.
"The dream of homeownership is very much alive in the hearts and minds of millennials,” says Phil Soper, Royal LePage president and CEO. “The current state of demographics bodes well for the housing market for years to come.”
REM (Real Estate Magazine) is Canada’s premier monthly magazine for real estate professionals. REALTORS®, real estate agents, sales representatives, brokers, owners, administrators, and other real estate industry stakeholders read REM every month for news, analysis, and commentary on Canadian real estate.
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