Single Canadians with low debt are putting off buying homes because of high costs: Survey

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While single Canadians with no debt might be best positioned to buy homes, a new survey has found they are hesitating to do so because of high prices and economic uncertainty.

A new survey by real estate company Re/Max found 43 per cent of single Canadians have less than $5,000 in debt, suggesting debt is not driving their decisions when it comes to buying real estate.

More than half (52 per cent) of respondents said economic uncertainty and expensive home prices were the biggest barriers for them.

The survey also found a split when it comes to the buying intentions of singles Canadians living in urban areas compared to those in suburban neighbourhoods, who are less hesitant due to lower costs.