Over Half The Province Thinks Ontario Homes Are Unaffordable & These Spots Are The Worst

If Ontario home prices make you doubt that you'll ever escape the confines of your one-bedroom, don't worry. You're not alone. In fact, you're the majority.

According to a new report by Right at Home Realty, an independent real estate brokerage, more than half of Ontarians think they may never afford a home in their city or town.

A measly 19% of future homebuyers in Ontario plan to buy in the next two to three years, down from 30% in 2021, marking an overall decrease of 56% year-over-year.

Yup, that's bleak. But wait, it gets worse. After all, the price of a home varies greatly depending on where you are in the province.

The issue of housing affordability is a different beast altogether for those living in the GTA and 416 regions.

The brokerage's data showed that 61% of GTA residents and 74% of those living within 416 regions think they may never afford a home in their city or town.

Surely, someone will help this poor generation buy property. However, it won't be the parents.

The Right at Home report found that 54% of parents in Ontario aren't planning to help their children buy a home.

"The cost of house prices is an issue, especially amongst my millennial clients," said Milli Pajpani, a sales representative.

"Most millennials want a property – either to reside in or invest in – however, many do not have the savings to make those purchases happen because of the current prices," Pajpani added.