Mortgage delinquency rates in Ontario are the highest in Canada, with over 3,000 mortgages in severe delinquency, totaling over $1 billion—an increase of about 66% from last year. While inflation stabilizes and interest rates decrease, rising unemployment contributes to financial stress. Consequently, many young Canadians are delaying homeownership, with nearly 30% of households nationwide, and 33% in Ontario, having adult children living at home due to high living costs and limited job opportunities.
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