Canadian millennials dissatisfied with their living situations: survey
With many Canadians being forced to adjust to the new normal of the pandemic, many are attempting to adapt their activities to be done at home.
As a result, many Canadians--especially millennials--are concerned with their living situations.
According to a recent survey from Properly, Ontario's millennials' homeownership aspirations have been impacted by the pandemic more than any other generation.
Prior to the pandemic, 67 per cent reported they were satisfied with their living situations.
However, since the onset of the pandemic, that number dropped to less than half--48 per cent.
According to the findings, millennials are three times more likely to desire a new home in 2021 compared to the rest of the population.
Additionally, 57 per cent want a detached home with a backyard, 45 per cent just want a detached home, 44 per cent want more square footage, 34 per cent want to be closer to green space, and 28 per cent want a better home office.
“People’s priorities are shifting profoundly, which is leading to a dizzying pace of change in the housing market,” Anshul Ruparell, co-founder and CEO of Properly, said in a news release.
“Home is now more important than ever, and many people are suddenly dreaming of a lifestyle in which nature, space, and a home office take on greater importance--resulting in a housing market that’s more competitive than ever before. The traditional approach to real estate doesn’t make it easy for millennials in their quest for homeownership. Properly is giving folks the confidence to buy that perfect home as soon as they find it and lets them sell their current home from the comforts of their new one," he continued.
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