A tough housing market could revive multigenerational homes, poll suggests
A new RBC poll indicates that over half of prospective Canadian homebuyers are considering multigenerational living to combat high housing costs. Many buyers are also opting to skip starter homes in favor of larger properties they can occupy for longer periods.
Why it matters
This trend reflects the significant impact of housing affordability crises on family structures and long-term financial planning in Canada.
Canadians shopping for a home say they are willing to live with mom and dad just to be able to afford a home, a new poll by the Royal Bank of Canada has found.
More than half (53 per cent) of respondents looking to buy their next or first home within the next two years said they would consider living in a multi-generational home, the RBC Home Ownership Poll found.
However, the enthusiasm for multi-generational living is not necessarily matched by mom and dad. In contrast to prospective homebuyers, 35 per cent of current homeowners say they would sell their home and buy one with their children to help them get into the market.
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