|  Six in 10 house hunters have ‘given up,’ survey shows Have you given up on buying your first home? If so, you’re not alone. New polling from Ipsos shows that six in 10 (63 per cent) Canadian non-owners have “given up” on ever being able to buy a home. Of that group, 76 per cent believe home ownership is only for the rich. It’s clear home ownership is still a goal Canadians feel is worth striving towards, but younger generations seem a bit more turned off by the prospect. While 57 per cent of respondents disagree with the statement that owning a home is less important now than 25 years ago, those aged 18-34 are more likely to agree with that sentiment (49 per cent) than those older than 55 (38 per cent). Paul Kershaw from Generation Squeeze says the seeming hopelessness of breaking into Canada’s hot housing market is a generational problem that we’ve collectively “tolerated” for decades as wages for young adults have not kept pace with the rise of home prices. "That is a double-edged sword. It cuts against affordability for younger Canadians and newcomers of any age trying to get into our housing market,” he says. Read more here about shifting attitudes towards home ownership from Global News reporter Craig Lord.  How to navigate the used car boom Remember the old adage that the moment you drive your new car off the dealer's lot, the vehicle loses 15 to 20 per cent of its value? Not so much, these days. Shrunken supply has inflated prices to the point that some used models are now worth so much, they're selling for more than their new counterparts. Dealers are scrambling for inventory while buyers are burning through their budgets just to afford cars with thousands of kilometres on the road. How did we get here? It’s a combination of supply chain constraints, COVID-19 buying habits and classic supply and demand. "In the last half-century, we've never had such an imbalance,” said Rebekah Young, a Scotiabank auto economist. Read more here to learn more about our new used car reality and for a guide on how to navigate the market.  Burnout drives women to seek new work Deloitte is ringing alarm bells about women experiencing high levels of burnout at work. A new study from the professional services firm found that of the 5,000 women surveyed across 10 countries, nearly half said they were feeling burnt out. More than 50 per cent of women surveyed said they felt more stressed at work this year than last, and 40 per cent said burnout was the main factor driving them to look for a new job. And while some employers have made moves to embrace flexibility at work through hybrid models, women reported feelings of exclusion and higher rates of microaggressions in these setups. "Despite the fact that many employers have implemented new ways of working designed to improve flexibility, our research shows that the new arrangements run the risk of excluding the very people who could most benefit from them," said Emma Codd, Deloitte’s global inclusion leader. Read more here from Global News reporter Irelyne Lavery. ________________________ – THE QUESTION – “My daughter will be attending a university in Scotland for one semester of her third year beginning January 2023. What is the best, most efficient way, and most cost-effective way for her to access money while in the U.K.? She has saved up enough money (in CAD) as well as having a large inheritance to draw from. She very much has enough money, but how best to access funds while there for day-to-day use? Opening a U.K. bank account? Any suggestions would be greatly appreciated.“ — A Money123 reader “I would recommend your daughter get a credit card that doesn’t charge foreign exchange fees on purchases or ATM withdrawals. That said, any ATM she uses may charge a one-time fee, so it’s best for her to withdraw the limit each time to minimize her expenses. Be sure to check the details of any card that promotes no FX fees as they may have a minimum spend requirement or they may just give the fees back in cashback. Setting up a local U.K. bank account would only be beneficial if she’s allowed to and plans on working while she’s studying abroad. It might also be worth setting up a student bank account while she’s there if she plans on working in the U.K. after she graduates. By opening an account, she could start building a local credit history immediately.“ -Barry Choi, personal finance and travel expert, Money We Have ___________________________ Want your money question answered by an expert? Get in touch! | 
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