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Young Canadians Avoid Home Buying

Source: Michael Lee, CTV News.ca, April 11, 2022

Younger Canadians are avoiding home purchases.

Recent data from Statistics Canada show the youngest households in Canada saw their wealth decrease for the first time since the pandemic began as they avoided home purchases and reduced their financial assets.

The report shows that the average wealth of the youngest age group, in which the main income earner is younger than 35, dropped by 1.4 per cent in the fourth quarter of 2021.

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