Younger homeowners more likely to be financially stressed: survey

In a new Leger survey, 68 per cent of respondents between 18 and 34 years of age with a mortgage say they are very or somewhat financially stressed about their mortgages, compared with 62 per cent across all homeowners.

Four out of 10 Canadians surveyed by Leger said they think the Bank of Canada should be cautious as it lowers interest rates, but another third think it’s not going fast enough.Respondents in households making more than $100,000 a year were more likely to say they support the central bank’s caution. Two thirds of respondents whose mortgages are up for renewal in the next two years say they plan to go for a fixed-rate mortgage. Younger respondents were more likely to say they will opt for a variable rate.

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Younger Canadians deserve compensation for enduring higher home pricesWe should compensate younger people for sacrificing their standard of living in return for asking them to endure higher housing costs to protect older people who bank on current home prices for their retirement
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