Tune in as Loans Canada President and CEO Scott Satov joins David Cooper on NEWSTALK1010 to discuss the Millennial homebuyers boom.
Main Discussion Points:
- Canadian homes prices have skyrocketed, however according to a survey by Royal Lepage, 48 per cent Canadians aged 25 to 35 currently own their home, and a quarter of these homeowners purchased a property during the coronavirus pandemic.
- Satov discusses possible explanations for why home ownership is possible for Millennials.
- Pandemic transformed Canadian’s apartments into home-offices.
- Stay at home orders by governments to combat COVID-19 rises led to a cutback in excess spending on leisure, restaurants, etc.
- Low interest rates and the need for more space gave incentive for millennials paying high rent prices to invest in a property instead.
- Canada’s federal 2022 budget plan will give further financial aid to first time home buyers.
Check out the full conversation.
The Late Showgram is hosted by David Cooper alongside writer, and political commentator Jim Richards. Featured on Newstalk 1010 on IheartRadio, the channel takes Canadians through the news and social issues of the day. You can find full episodes on iheartradio.com or apple podcast
