In case you thought intergenerational wealth creation and maintenance was overblown... equitable housing access is needed to level the playing field...
Statistics Canada just published:
"Parents and children in the Canadian housing market:
Does parental property ownership increase the likelihood of homeownership for their adult children?"
The answers to their question
1. People born in the 1990s whose parents were homeowners were twice as likely to own a home in 2021 than those whose parents were non-homeowners.
2. The adult children of multiple-property owners were nearly three times more likely to be homeowners in 2021 than those whose parents were non-homeowners.
3. The majority (52.8%) of people born in the 1990s who own multiple properties also have parents who own multiple properties, while 10% of those who own multiple properties have non-homeowner parents.
4. The adult children of multiple-property owners earn higher incomes on average than those of non-homeowners and single-property owners.
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