Millennials are set to drive growth in Canada’s housing market, perhaps to a greater extent than their parents did. That’s according to the Canada Mortgage and Housing Corporation’s Dana Senagama who told the Toronto Star: “They’re going to be a force to be reckoned with over the next decade, especially as they move into their prime child-rearing years and will need more space.” However, the impact that the generation has on the market may mean fewer choosing to buy homes in favour of the convenience and flexibility of renting. Community is also far more important to millennials with compromises on the home type and premium prices being paid in order to be close to amenities and a walkable ‘commute’.
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