(Source: Calgary Herald)
TD Canada Trust recently came out with a Generational Homeownership Study in which they talked with today’s young homebuyers (ages 18 to 34) and with some 55-plus folks who still recall buying their first home.
The questions put to the 900 who were interviewed by Angus Reid Strategies were pretty basic: What prompted you to buy? Did you get some kind of financial help? How important was paying off the mortgage?
When today’s 55-plus Canadians bought their first home, paying off the mortgage was a top priority– much more important than it is to this current generation.
“Today, less than half of young adults (49 per cent) agree that paying off their mortgage is a first priority, compared to 64 per cent of those over 55,” says the study.
Debt was something to get rid of, as it is for most people today. But I can recall a realtor telling me that today’s homebuyers are not afraid of debt.
Read Marty Hope’s full article “Generation gap for homebuyers” in the Calgary Herald (November 28, 2009).
