The dream of owning a home is not in fact dead for Canadian millennials 香蕉视频直播� at least, for some 香蕉视频直播� despite ever-present challenges to save money.

That香蕉视频直播檚 according to a new poll released Tuesday by HSBC, which questioned 9,000 young people across nine countries 香蕉视频直播� including 1,000 living in Canada.

About 34 per cent of millennials in this country already own a home, and eight in 10 of those who haven香蕉视频直播檛 already made a down payment, plan to do so in the next five years.

The problem is that this group is still having a hard time saving, or isn香蕉视频直播檛 bothering at all.

Almost 30 per cent of respondents in Canada reported having no savings plan, while 53 pre cent have an 香蕉视频直播渁pproximate budget.香蕉视频直播�

About 37 per cent of millennials who already own a home went to the 香蕉视频直播淏ank of Mom and Dad,香蕉视频直播� according to the survey, while about 20 per cent moved back in with their parents to save cash.

The group Generation Squeeze adds to the bleak picture: it takes millennials in B.C. about 16 years to save for a 20-per-cent down payment 香蕉视频直播� more than a decade longer than it took in 1976. In Vancouver, it takes a further seven years.

香蕉视频直播淭he reality is, it香蕉视频直播檚 a challenge,香蕉视频直播� Larry Tomei, executive vice president at HSBC said. 香蕉视频直播淪o I can香蕉视频直播檛 stress enough the importance of having a good plan that includes getting the right financial services advice and support before and after you buy.香蕉视频直播�

When millennials finally buy a home, almost half of them struggle to stick to a budget within the first two years 香蕉视频直播� often overspending, leading them back to Mom and Dad香蕉视频直播檚 wallets.

More than half know saving would require spending less on leisure activities and going out. One third said they香蕉视频直播檙e even prepared to delay having children.

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