Home Economics: Home ownership is a fleeting dream for young Canadians
BNN Bloomberg
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With real estate prices climbing to all time highs, 36 per cent of young Canadians under the age of 40 said they have given up on the idea of buying a home according to a poll from Royal Bank of Canada. With increased demand and short supply raising prices, 62 per cent of respondents also said they expect most people will be priced out of the market over the next decade.
With the pandemic forcing couples to spend more time together than they typically have, some divorce lawyers are seeing a rise in demand. Ron Shulman, founder and managing partner of Shulman & Partners LLP, said his offices have seen a 40 per cent increase in divorce inquires in recent months. Shulman found that separation dates were one of the main trends spurring divorce disputes. "Many individuals are concerned about the exact date of separation since an asset may be worth a whole lot more today than it was two months ago,â Shulman said.