The overwhelming majority (90%) of millennials say home ownership is important to them (CUR) but over half of Ontarians (56%) believe that home ownership is unaffordable in their neighborhood (NAV).
Over the next 10 years, 700,000 Millennials plan to move out of their parents' basements and into their own home (CUR) – a number the current resale housing market can’t support.
Young Ontarian families need room to grow, meaning more low-rise, semi-detached and detached family homes need to be built to meet their needs.
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…
Household incomes grew 36%
$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