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. Elections are a key time for Canadians to communicate their aspirations to politicians regarding homeownership. 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.”