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Skyrocketing home prices have convinced a large number of young Canadians to abandon their dreams of homeownership for good, says a recent poll.
According to the RBC Spring Housing Poll released this week, 36 per cent of Canadians under 40 who aren’t homeowners think buying a house has become permanently out of their reach. That number rises to 39 per cent in Ontario and 41 per cent in the Western provinces, which include British Columbia, Alberta, Saskatchewan and Manitoba.
The poll, which surveyed 2,000 people over the age of 18, found 62 per cent of all Canadians expect most people to be priced out of the market in the next decade.