Three in four Canadians who don’t own a property say buying a home feels out of reach, a new poll shows.
A CIBC survey, published Thursday, shows 76% of Canadians who haven’t yet entered the housing market feel homeownership is a far-off dream, but more than half of them are holding on to their goal of one day owning a home.
At least 70% of non-homeowners said they were priced out of the market while 63% said it is hard to save for a down payment, the survey shows.
The survey comes on the same day the federal government announced longer amortization periods for certain first-time homebuyers.
The federal government will allow 30-year amortization periods on insured mortgages for first-time homebuyers who purchase new builds, Finance Minister Chrystia Freeland announced Thursday.
Freeland also said the government will nearly double the…
