Young Canadians still prefer single-detached homes over condos
“Extending the amortization period on insured mortgages, easing the stress test introduced last year or increasing the $750 tax credit for first-time buyers might encourage more millennials to purchase a condo, the only type of property within financial reach,” he added. “But since most millennials ultimately aspire to purchase of a single-family home, it’s worthwhile asking whether Canada needs any more condos right now.”
“Attempts by urban planners and policy-makers to condition Canadians into accepting condo living as a permanent state in life have not stopped millennials from dreaming the suburban dream,”
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