The semi-annual State of The Housing Market survey conducted by Mortgage Pros Canada has revealed that Canadian renters are increasingly giving up on homeownership. Nearly half of non-homeowners surveyed do not believe they will ever be able to buy a home, and only 17% plan to buy their first home within the next 24 months. Furthermore, many younger adults are considering moving to a different province for affordability, and non-owners have a lack of understanding of the relationship between housing affordability and interest rates.
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