Is Home Ownership Out Of Reach For The Young?
Home Ownership Out Of Reach For The Young? Nanos Research Group recently completed a study on behalf of OREA ( The Ontario Real Estate Association ) . The study shows that almost 70% of young Ontarians agree with this statement.
OREA CEO Tim Hudak offered the following comments:
“The dream of home ownership is slipping away for an entire generation of young people. Nearly half of Ontarians between the ages of 25 and 34 are still living at home with their parents. These are people who’ve done everything right – gone to school, worked hard, paid down their student loans – yet they’re struggling to take that next step in life to own a home. We need action to address this problem. “
Other Notable Information
- 78% of Ontario’s millennials agree or somewhat agree that the government needs to do more to help young people overcome the housing affordability hurdles
- 41% Say saving enough for the down payment is the most significant obstacle to owning a home f
- 22% Say getting a mortgage approved
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