It is nary concealed that the occupation of affordable location ownership successful the Greater Toronto Area is retired of control, and is particularly a interest for the millennial population. A caller OREA/Nanos survey recovered that 58.7 percent of non-millennial Ontarians hold oregon somewhat hold that location ownership is unaffordable successful their neighbourhood, portion 41 percent listed redeeming capable for a down outgo arsenic the astir important obstruction to owning a home.
With mean caller GTA condo prices astatine $500,000, mean caller GTA location prices astatine $1,000,000 and resale astatine astir $800,000 mostly speaking, the adjacent procreation has small accidental astatine location ownership without a important fiscal publication from their parents.
In response, I person written a timely publication called “The GTA Affordable Home Ownership Crisis: A Deeper Understanding and the Pathway to the Solution” arsenic portion of my non-profit run to bring consciousness to this issue, and it is disposable online astatine affordablehomeownership.ca.
The publication is affluent with ideas and breaks down the elements of the situation successful an absorbing way. My purpose is to bring an knowing of the relevance and implications by exposing the drivers down the problems, and pointing towards a pathway to the solutions truthful that our children, and their generation, volition not person to look a aboriginal without affordable location ownership.
As a person successful the income and selling of caller homes and condos successful the GTA, for decades I person besides acted arsenic a trusted advisor to galore of the GTA’s apical developers. Growing up successful the improvement manufacture has enhanced my instauration and insights successful preconstruction existent estate.
The solution of the GTA location ownership situation volition lone turn done understanding, resonating from professionals successful the improvement Industry to the public, and it is lone done nationalist consciousness that authorities and non-governmental organizations volition person the motivation, and the ability, to marque the needed changes.
I wrote this publication to marque a applicable idiosyncratic publication towards solving the superior situation of affordable location ownership by bringing consciousness to the public, developers, their employees and consultants, and politicians. The anticipation would besides beryllium to make a imaginable spark for further originative solutions, not to marque a nett of immoderate kind.
Recognizing that we unrecorded successful an property that we are inundated with information, the publication takes a concise and approachable mag benignant format with pictures and infographics and explores topics ranging from excessive taxes and Canadian owe regulations to the value of marketplace forces connected proviso and demand, and explores innovative caller reasoning successful plan specified arsenic alternatives for ‘missing middle’ lodging types.
For a limited-time acknowledgment to our generous sponsors, the publication is disposable to download for escaped at: affordablehomeownership.ca.
R. Scott Davie is President and Broker of Record astatine Davie Real Estate Inc. Prior to launching his ain pre-construction listing brokerage, Davie was Senior Vice President of Milborne Group. He besides has 18 years acquisition managing a fig of non-profit assemblage organizations and is recognized arsenic a starring existent property adept by the media having authored galore editorials and nationalist relations articles that person appeared successful salient publications. To larn more, visit: davierealestateinc.com