Homes In Ontario Are So Expensive That Nearly 40% Of Young People Have Given Up On Buying
According to a recent RBC poll, a whopping 39% of non-homeowning Ontarians under 40 have given up on the idea of owning a home.
The announcement comes as home prices in Ontario continue to rise. By next year, the price of a property is expected to grow by 21.2%, making the average home in the province around $900,000.
Meanwhile, many residents that are still planning to purchase a home in Canada are working with budgets that are nearly $200,000 below the average price.
On top of that, over 70% of Ontarians believe that Canadians will be priced out of the market in the next decade.