Many young British Columbians fear they may never be able to afford to own their own home.
A new study by Insights West and Coast Capital Savings reveals more than half admit they are struggling financially, and not saving for the future.
Fifty-two per cent of those 18 to 29 old admit they are struggling financially, and not saving for the future. Twenty-four per cent say they are living paycheque to paycheque.
A whopping 85 per cent feel it's virtually impossible for young people to buy a house today in B.C., and 60 per cent are seriously considering moving somewhere more affordable.
“Never mind home ownership,” says Coast Capital Savings spokesperson Tracey Arnish. “Even renting in the Lower Mainland is a stretch for a lot of young people. Once you take housing costs off the top, there isn’t a lot left over for other obligations.”
With that in mind, we headed to UBC Okanagan to ask some of the Okanagan's brightest young minds how they feel about the subject and whether they'll stick around after they graduate.
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