Keep the Dream Alive

This Ontario Election, tell your local candidates to protect the dream of home ownership for future generations.

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Millennials want to buy homes...

Ontario millennials are a generation that wants to own a home—not rent. The overwhelming majority (90%) believe home ownership is important to them. 50% are likely to buy a home in the next two years (IPSOS/RBC) and condos are not their first choice (CUR).

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The next stage Of Their Lives...

Millennials are looking to move onto the next stage of their lives. 50% are likely to buy a home in the next two years (IPSOS/RBC) and condos are not their first choice (CUR).

And there are lots of them...

In the next 10 years, there will be 700,000 millennials moving out of their parents' basements looking for housing (CUR). Those looking to leave their parents’ house, plus those looking to transition from renting to buying, could result in a total of 255,000 new first-time homebuyers (CUR).

The story doesn’t need to be like this...

Jasmine and Mark. They’ve done everything right. Gone to school. Graduated. Got good jobs. Saved carefully. Now they want to buy their first family home. A place to raise their kids. To become part of a community. But no matter how they crunch the numbers, they can’t make it work. They can’t afford a home.

Ontario REALTORS® are fighting for families like Jasmine and Mark to Keep the Dream of Home Ownership Alive.

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The Dream is Eroding

Millennials want to own homes but it’s never been tougher to achieve. Rising home prices have pushed home ownership out of reach. All their hard work and saving just isn’t enough to compete with rising prices.

89% of Ontarians believe that owning a home is more difficult for young people than it used to be.

Between 2001 and 2014, millennials have watched…

House prices grew 133%


Household incomes grew 36%

THE STATE of things…

$585,290 the 2017 average price of an Ontario home (CREA).

$32,000the average income for a millennial in 2016.

$38,000down payment + closing costs required on 2017 average priced Ontario home

What about all that debt...

59% of young professionals in the GTA say housing costs are making it more difficult to pay off debt*

And, what about retirement?...

83% of young professionals in the GTA reveal housing costs are making it more difficult to save for retirement*


This Leaves a huge portion of the population priced out of the housing market and reliant on renting. Top 3 reasons why young professionals are renting*:

Can’t afford housing carrying costs

Can’t afford a down payment

Allows them to live in a preferred location


59% of millennials surveyed in Ontario would like to buy a detached home*

Why Should You Care?

  1. Owning a home is the most significant investment made by individuals and families and it has important economic and social benefits.
  2. There is a strong connection between home ownership and positive outcomes for families. Children in owned homes do better in school and families report having improved health (Habitat for Humanity).
  3. There is a strong connection between home ownership and strong communities and a sense of belonging to a neighbourhood.
  4. Home ownership leads to the building of wealth over the course of the purchaser’s life. This equity can be used in retirement and the wealth transferred to children.
  5. If we don’t plan for the future housing needs of millennials and young families then there will be even stronger demand for the limited supply of ground-related homes, which will put continued upward pressure on prices.

Boiling point

We are at a watershed moment in the history of home ownership in our province. Decisions that get made by policy makers today will have long-term impact on whether or not future generations get a fair chance at achieving the Canadian dream of home ownership.

Supply needs to be addressed...

The supply issue is reaching a crisis stage and it has to be addressed with urgency by governments at all levels.

Another baby Boom...

Female millennials are reaching the age where they want to start a family, which is likely to trigger a baby boom that could last for the next decade. (CUR).


TO Keep the dream alive Governments need to…

Ensure that the right type of housing is available to meet this generation’s needs.

  • More “Missing Middle” housing where young families can get their start. (CUR).
  • More space for families and millennials who will increasingly look for ground-related housing, which includes single-detached and semi-detached houses and townhouses. (CUR).

Make home ownership more affordable for first time buyers.

  • First-time buyers are still paying a portion of the land transfer tax (LTT) - especially in Toronto where home buyers pay a second, municipal LTT.
  • To help make it more affordable to get into the market, the First-Time Home Buyer Land Transfer Tax rebate should be increased to $6,000 and indexed with inflation.

Increase supply to fill the demand as it grows.

  • The lack of new housing supply is one of the biggest barriers to a balanced housing market. Layers upon layers of approvals, lack of serviced land, and zoning challenges are just a few examples of some policies which limit new building supply.