The high cost of living will ‘hobble first-time homebuyers’ in the GTA, where concerns are higher than in the rest of the country, says RE/MAX
Nearly a third of Canadians, interested in buying or selling a home this year, are optimistic that 2023 will bring more balance to the housing market. But when it comes to housing affordability, Toronto area residents registered a higher level of concern than the rest of the country, according to Leger research contained in a report by RE/MAX Canada on Wednesday.
The lack of affordable housing was an issue for 34 per cent of Toronto-area residents, compared to 23 per cent in the rest of the country. Rising rents worried 32 per cent of GTA respondents versus 25 per cent nationally. “Consumers are concerned for all the reasons in the report — inflation, affordability, unpredictable economic factors. Those are all legitimate concerns,” he said.
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