Millennials priced out of home ownership

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Twenty-nine-year-old Paddy Treacy has been house hunting for nearly two years and even with a six-figure household income, getting into the market seemed tough pre-pandemic, but now it's proving to be even harder.

With the average home price in Canada jumping 31.6 per cent year-over-year in March, many people under the age of 35 feel that their dreams of homeownership are increasingly out of reach. These millennial prospective buyers have seen their earnings hammered by two major recessions now.

Anne Gaviola looks at why millennials are being priced out of home ownership in Canada.

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