{"id":188945,"date":"2019-01-28T18:20:42","date_gmt":"2019-01-28T23:20:42","guid":{"rendered":"https:\/\/www.livabl.com\/articles\/?p=188945"},"modified":"2019-01-28T18:20:42","modified_gmt":"2019-01-28T23:20:42","slug":"debt-keeping-one-in-five-canadians-from-buying-home","status":"publish","type":"post","link":"https:\/\/www.livabl.com\/articles\/archives\/debt-keeping-one-in-five-canadians-from-buying-home","title":{"rendered":"Debt is keeping one in five Canadians from buying a home"},"content":{"rendered":"<h4 id='pressboard-ad-sponsorship-tag' style='margin-bottom: 35px;'><\/h4><p><a href=\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/01\/canadian-household-debt.jpg\" rel=\"lightbox[188945]\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-188949\" src=\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/01\/canadian-household-debt.jpg\" alt=\"\" width=\"1024\" height=\"683\" \/><\/a><\/p>\n<p><em>Photo:\u00a0<a href=\"https:\/\/www.flickr.com\/redirect?url=http:\/\/www.ccPixs.com\">cPixs.com<\/a><\/em><\/p>\n<p>Canadians are putting off major personal milestones \u2014 including purchasing a home \u2014 because of their debt, a new survey suggests.<\/p>\n<p>Debt has caused 18 percent of Canadians to put off buying a home, according to an <a href=\"http:\/\/angusreid.org\/wp-content\/uploads\/2019\/01\/2019.01.28-millennial-finances.pdf\" class=\"external\" target=\"_blank\">Angus Reid Institute survey<\/a> undertaken in partnership with The Globe and Mail newspaper.<\/p>\n<p>Angus Reid Institute, a not-for-profit pollster, conducted the survey of 1,500 Canadian adults online from September 27th\u201330th.<\/p>\n\n<p>Homebuying was not the only activity Canadian debt curtailed. In fact, 32 percent of respondents say they aren\u2019t saving for retirement because of what they owe, while 8 percent haven\u2019t tied the knot and 7 percent are delaying having children.<\/p>\n<p>The number of Millennials living at home has received media attention in recent years as more than a third of Canadians aged 20\u201334 reside with at least one parent, according to <a href=\"https:\/\/www12.statcan.gc.ca\/census-recensement\/2016\/as-sa\/98-200-x\/2016008\/98-200-x2016008-eng.cfm\" class=\"external\" target=\"_blank\">the most recent census data available<\/a> from 2016. The share of Canadians in this age group who live at home has been on the rise since 2001.<\/p>\n<p>The Angus Reid survey suggests some Canadians have yet to leave the nest as a result of debt. Five percent of respondents cites debt as a reason they have not moved out of their parents\u2019 home. Of course, the high cost of housing has also been reported as keeping Millennials from striking out on their own.<\/p>\n<div class=\"see-more-link\"><img decoding=\"async\" alt=\"See Also\" src=\"https:\/\/www.livabl.com\/articles\/wp-content\/themes\/livabl\/images\/see-also-cta-icon.svg\"\/>\r\n          <strong><span>SEE ALSO:<\/span><a href=\"https:\/\/www.livabl.com\/articles\/2019\/01\/canadian-households-brink-going-bust.html\"  area-label=\"Are many Canadian households really on the brink of going bust?\">Are many Canadian households really on the brink of going bust?<\/a><\/strong>\r\n        <\/div>\n<p>While some are clearly struggling with debt levels, only 16 percent of indebted Canadians say debt is \u201cdifficult to manage,\u201d and 24 percent of respondents report not owing a cent to creditors.<\/p>\n<p>The survey results come at a time when some experts are flagging high household debt as a risk to the Canadian economy.<\/p>\n<p>However, in a report published last week National Bank pointed out that Canadian bankruptcies are still around record lows, despite rising interest rates that may strain some households\u2019 ability to manage debt.<\/p>\n<div id='pressboard-ad-sponsorship-msg'><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Canadians are putting off major personal milestones \u2014 including purchasing a home \u2014 because of their debt, a new survey suggests.<\/p>\n","protected":false},"author":23,"featured_media":188949,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_is_hidden":false,"apple_news_is_paid":false,"apple_news_is_preview":false,"apple_news_is_sponsored":false,"apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"middle","apple_news_slug":"","apple_news_sections":["https:\/\/u48r14.digitalhub.com\/sections\/09b86915-7d2b-3acd-915b-b215002d01b7"],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[11269],"tags":[],"coauthors":[8692],"apple_news_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - 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