Ontario residents are ranking housing affordability as a main concern demanding government attention and action, according to new polling conducted on behalf of the Ontario Real Estate Association (OREA).
For the first time since OREA began this polling in 2021, over half (51%) of respondents ranked housing affordability as their top priority for government focus – two years ago, that share was only 16%. The survey found that while the majority of Ontario respondents (52%) can cover their expenses every month, they are unable to save money – with 17% admitting they are unable to cover normal expenses without taking on debt or cutting back. For aspiring homeowners, this figure jumps to 29%.
And while 80% of Ontarians believe their provincial government can take steps to improve housing affordability, only 15% approving of the job being done and with 55% believing the provincial government has made it more difficult to buy a home during the last three years.
“For most of Canadian history, it was a given that every generation had a better shot at homeownership than the last. Homeownership fostered vibrant and stable communities and was foundational to a great quality of life,” said OREA CEO Tim Hudak. “But today, that dream is slipping from too many young families in Ontario as they are frozen out of the housing market due to a historic lack of housing supply driving up prices. These issues cannot be solved without governments taking bold action.”