The bank of mom and dad may be undergoing an aggressive expansion. Teranet, Canada’s largest land registry operator, conducted an analysis on ownership in Ontario. First-time buyers scoring a place on their own is on the slide. Most aggressively taking its place, is buying with a second owner at least 20 years older. The firm believes this may confirm what you already know – more people need help from mom and dad.
Fewer Homes Have One Owner On The Title
Higher prices mean fewer first-time buyers are pursuing homeownership alone. The rate of condo apartments with only one person on title was 57.1% in 2012, and fell to 48.4% by 2018. For all home types (the general market), the rate fell from 40.2% to 33.9% over the same period. Double income households? Shocking… not. What is interesting is who they’re buying with….CLICK for complete article