“When it comes to the budgets of Ontario families, housing is the biggest line item. In today’s market, young people in particular are struggling to afford the Canadian dream of home ownership.
Unfortunately, when it comes to making housing more affordable for young families, the 2018 Ontario Budget is a missed opportunity. Young people looking for help to get out of mom and dad’s basement didn’t get any in today’s budget. The Provincial Government deserves credit for doubling the land transfer tax rebate for first-time home buyers in 2017, but more work is needed to make home ownership more affordable, especially in urban areas.
Home ownership is top of mind for voters because everyone knows someone struggling to get into the market. Ontario REALTORS® call on all three major political parties to include affordable home ownership plans in their platforms. REALTORS® are willing to work with all political parties to reduce costs for first-time home buyers and inject more supply into the market.
It’s time to take action now, so we can protect the dream of home ownership for future generations.”
Tim Hudak, CEO – Ontario Real Estate Association