In its latest study, the Ontario Securities Commission (OSC) found that majority of the province’s millennials view home ownership as a higher priority than investing, with 1 in 3 of them owning their residences already.
The report titled Missing Out: Millennials and the Markets
found that over half of young non-homeowners in Ontario placed owning a home in their top three financial priorities.
Read more: Home ownership declining among Canadians – census
The study results also stated that while 4 in 5 of the province’s 18-36 year olds are saving, only half are investing. Millennials’ main reasons for not investing included having other financial priorities, not having enough income or savings, not knowing enough about investing, and concerns about losing money in the markets.
In the wake of the report, the OSC announced that beginning Spring 2018, it will be conducting more research aimed at finding behavioural insights to encourage more millennials to start investing.
The full study can be viewed here
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