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Many Canadians are able to reach traditional life milestones. Those who are desperate to own a home have a lot of debt.
A home purchase now may not be the best choice, given the high house prices and low affordability rate.
Stats Canada says that by July 2023 Canadians are expected to owe $1.85 per dollar of disposable income.
With the decline in household disposable income, it’s no wonder Canadians aren’t sure which way to go.
Life Progression Towards Home Ownership
Our parents have always told us to get a job when we are young. good education is essential.
It is important to work hard in order to achieve a high salary. You should also get married, raise children, and purchase a home to create memories that will last a lifetime.
Many of you remember this being said to them at some point.
It may not have been your parents, but we have to understand that it’s a timeline almost engrained in our minds.
Debt It is important to remember that this is no joke. Money should be used to help you achieve your goalsNot a way to fit into standard ideas.
Molly, for example, is getting married. She plans to buy a home and have a child as soon as she can.
Molly has done so well since she graduated from University…