April 21, 2011
81 percent, however, feel that it will be tougher for them to reach their goal of home-ownership than it was for their parents, and 89 percent believe it will only become harder to own in the future.
54 percent of Ontarian renters cited affordability as a key reason for not owning a home, while fully 70 percent surveyed stated that they’d be more willing to consider owning if the government offered more in the way of tax breaks and incentives to offset costs to first time buyers.
John Wright, of Ipsos-Reid (the firm that ran the survey), says that “[the] poll is compelling evidence that a majority of Ontarians are concerned about the affordability of home ownership for themselves and future generations.”
OREA is proposing three policy initiatives that they say will strengthen home ownership in Ontario. They say they would improve the Land Transfer Tax Rebate for first time home-buyers, introduce a permanent Ontario Home Renovation Tax Rebate, and reintroduce the Ontario Home Energy Efficiency Retrofit Rebate program.