For Many Mil­len­ni­als, Home Buy­ing and Par­ents Don’t Mix Well

The Prince George Citizen - The Citizen - Real Estate Weekly - - Real Estate Weekly -

Canada’s new mort­gage stress test, ef­fec­tive Jan­uary 1, is aimed at cool­ing the Cana­dian real es­tate mar­ket. It was in­tro­duced to pro­tect banks and de­pos­i­tors by lim­it­ing their risk. One of its less de­sir­able con­se­quences, how­ever, is that it puts even more pres­sure on the shoul­ders of a gen­er­a­tion whose fi­nan­cial woes are al­ready well-doc­u­mented. With this new mea­sure, Mil­len­ni­als, who have al­ready been nick­named “gen­er­a­tion debt”, may have to post­pone buy­ing their own home even fur­ther.

Tough Ne­go­ti­a­tions: Par­ents help with home buy­ing, but there are hid­den costs

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