Why housing affordability is hurting
Learn what factors determine if a home is “affordable” and why recent changes have resulted in a generation of Canadians unable to buy their first home.
For generations, Canadians have viewed homeownership as not only a major life milestone, but an investment in their future. But homeownership is increasingly difficult for the average Canadian to achieve. Governments hold the key to unlocking the door to homeownership again.
“As a 27 year old male affordable housing is a huge concern! [….] The only way I can afford a house in the future is to live at home and save for a bigger down payment…. Some people don’t have that opportunity and with rent being so high, they will never have the chance of owning a home.”
“With the real estate market the way it is right now… to sell a home at a profit and to down size, you end up paying more for a smaller home/condo/modular [so…you] might as well stay where [you] are!!”
“I cannot save for a down payment due to soaring Ontario rent prices. More than half my pay goes to rent and I am not even in the GTA.”