Vast majority of GTA Millennials fear buying a home is out of reach, poll says
There is great concern among GTA Millennials that they will be unable to afford a home, according to a new poll from the Building Industry and Land Development Association (BILD) and the Toronto Real Estate Board (TREB).
The fear goes deeper, as GTA residents also expressed a lack of confidence about the likelihood their children will be able to remain in the communities where they grew up.
“According to a recent Centre for Urban Research and Land Development study, there are about 730,000 Millennials living in the Greater Toronto and Hamilton Area who may be planning to move on from living in their parents’ homes and from sharing a dwelling with roommates in the next 10 years, potentially creating 500,000 new households,” says Dave Wilkes, BILD President and CEO.
Read the rest of the article at Home Magazine.
The TORONTO REAL ESTATE BOARD is a not-for-profit corporation founded in 1920 by a small group of real estate practitioners. TREB is the collective voice for both its commercial and residential REALTOR® Members and operates under the direction of an elected voluntary Board of 16 Directors.