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Thrive Pulse: 60% of millennials aren’t homeowners...yet

Jordan Wimmer

Contributing Writer at Thrive Savings

It’s no surprise that the skyrocketing living costs combined with a disproportionately small increase in wages have left many Canadians unable to achieve first-time buyer status at the young age their parents did, or at all, for that matter.

This past week, we conducted a survey of 100 of our millennial users to gain insight into homeownership trends.

We asked our users: Do you believe you’ll ever own a home?

These were the results:

  • 45% of our users believe they won’t ever be able to afford a home
  • 15% of our users are saving towards a downpayment
  • 40% of our users already own a home

With a total of 60% of our users who aren’t homeowners, it signals a significant shift in the housing market and highlights the need for platforms like Thrive Savings to help all Canadians save money toward affording their first home.

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