Multi-generational home buying tempts 1 in 2 near-term buyers: RBC poll

Canadians increasingly consider multi-generational home purchases to address affordability, with 53% of prospective buyers open to joint ownership. Key reasons include housing costs, managing living expenses, and financial necessity. First-time buyers expect to purchase later, averaging age 41, and prioritize long-term suitability. Co-borrowing raises legal and financial responsibilities, requiring formal agreements on ownership, costs, and exit strategies. Renewal stress is high due to rising rates, highlighting the need for comprehensive financial advice.