The results of a recent study conducted by Royal Bank of Canada showed that 32% of Canadians are likely to buy a house in the next two years (7% more than last year), and millennials are a clear majority this percentage. RBC's annual Housing Ownership Survey found that 50% of millennials (those between 18 and 34 years of age) expressed the greatest desire to buy homes in the near future. RBC noted the resurgence of confidence in the economy and employment, as the main motivators to increase the intentions of buying homes among Canadians. With the increase in fiscal pressure caused by the latest stress test guidelines issued by the Office of the Superintendent of Financial Institutions (OSFI) for unsecured mortgages, 55% of the respondents indicated that the revised rules are affecting their decisions. purchase. These include making higher down payments (25%), delaying home purchases (19%) or buying a smaller and less expensive home or a less expensive home in a different place (18% each). Canadians continue to be optimistic about entering the real estate market despite changes in government regulations, they are becoming more informed before starting the process of buying a home, starting with their affordability, according to Nicole Wells, Vice President of Home Equity Financing, RBC. With the right tools and a detailed process, Canadians are better prepared to make one of the most important decisions of their lives, and they are based on facts, not emotions. 84% of millennials expressed confidence in buying a house as a very good or good investment, compared to 79% in 2017. Millennials also feel less anxiety about employment (36% vs. 47% in 2017) and less uncertainty about the economy (19% vs. 28% in 2017). In addition, 35% of Canadians indicated in the survey that they had received, or would receive, financial assistance from their families for their advances. Meanwhile, 36% plan to do it alone with a dedicated savings account. On the other hand, 61% are very or somewhat concerned about increases in interest rates, increasing almost 10% over last year. 35% are thinking of buying a house before due to low current interest rates, while another 32% also think about doing so due to a possible increase in interest rates. However, there are always options that can be adjusted to your needs and abilities. Do not hesitate to contact me if you need any kind of advice.