Did you jointly buy your first home with your parents? We want to hear from you

More young homeowners in their 20s and early 30s are getting into the real estate market by financially partnering with their parents, a new report from Statistics Canada shows.

According to the report, one in six Canadian homeowners who were born in the 90s owned their home together with their parents as of 2021.

Statistics Canada said the proportion was higher in pricier urban markets, such as Toronto, Guelph, Abbotsford-Mission, Vancouver and Victoria.

"In around 3 in 10 of these co-ownership situations, the adult child lives in the co-owned property and the parents live in another property they own, which may correspond to so-called mortgage 'co-signing,'" the agency said.

Statistics Canada says the study suggests that the children of homeowners have an easier time getting into the housing market than those whose parents did not own a home.

The new data comes amid a housing crisis and an affordability crisis which have made it more difficult for young people to get into the housing market.

It also raises questions about how these arrangements work: Is there an expectation that parents will eventually be fully reimbursed? How comfortable do children and parents feel about entering into the arrangements; what are some of the benefits and pitfalls of giving and getting financial help this way; would there be any way for the new homeowner to get into the housing market otherwise?

CP24 wants to hear from you if you are in such an arrangement or are contemplating one.

Share your story by emailing us at torontonews@bellmedia.ca with your name, general location and phone number in case we want to follow up. Your comments may be used in a CP24 story.