Poll: 94 per cent of GTA millennials concerned they won’t be able to buy home

An overwhelming majority of millennials are concerned that they will not be able to afford a home in the Greater Toronto Area, according to a poll released Tuesday.

The online Ipsos survey, which was conducted on behalf of the Building Industry and Land Development Association and the Toronto Real Estate Board, found that 94 per cent of respondents between the ages of 18 and 35 were concerned with the ability of today’s youth to afford a house in the GTA. About 84 per cent of respondents between the ages of 35 and 54 and 80 per cent of those 55 and over also said they were concerned.

Approximately 92 per cent of those surveyed said that the dream of home ownership is becoming more difficult to achieve for young people living in their respective cities and 86 per cent agreed with the statement that it is important that young families can afford to live and work in the GTA without having to commute for more than an hour to get to their place of employment.

Read the rest of the article at CP24

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.

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