Top 4 barriers to home ownership

Posted in Buying Tips

To ensure affordable home ownership remains a top priority for policy makers, OREA has launched the Keep the Dream Alive campaign.

couple struggling to afford to buy a home

(NC) For thousands of Ontario’s aspiring home buyers, the dream of home ownership is getting harder to achieve.

The Ontario Real Estate Association (OREA) partnered with Nanos Research to learn more about the challenges facing young Ontarians and future homeowners trying to get into the market. Here’s what they found:

  1. Close to 50 per cent of buyers can’t save enough for a down payment. Housing prices are increasing, but household income is not growing at the same rate. The average price of an Ontario home in 2017 was $585,290, yet the average Millennial income is just $32,000.

  2. Debt is hindering first-time buyers. Post-secondary graduates owe on average over $20,000 in student debt, which typically takes 10 years to pay off. Couple that with rental fees and other expenses like transportation, healthcare and prescription drugs, and owning a home slips further out of reach.

  3. It’s difficult to get mortgage approval. The new OSFI stress-test rules combined with higher interest rates have reduced buying power by approximately 20 cents on the dollar. This not only impedes first-time buyers, but also deters seniors from right-sizing and growing families from upsizing.

  4. Many struggle to find the right type of housing. More people are chasing after fewer and fewer homes. Without increased supply and more housing options — specifically “missing middle” housing, such as townhouses, stacked flats and mid-rise buildings — many will be forced to leave the province altogether, robbing the Ontario economy of potentially skilled workers.

Ontario’s aspiring home buyers are counting on governments at all levels to keep the dream of home ownership alive. To ensure affordable home ownership remains a top priority for policy makers, OREA has launched the Keep the Dream Alive campaign. Find more information at

listing your house for sale
Robbin's jeep - her pride and joy
the keys to your new home
Robbin's cats Tonka and Kubota

Supporting Young Women at the Welland Rose Festival Coronation Ball

I was pleased to sponsor a young lady by the name of Jessica Thomas, her enthusiasm, energy and professionalism were refreshing. Jessica's presentations were overwhelmingly awesome, having her crowned as 1st Princess in the court of the 2019 Rose Queen, Georgia Major.

Don't Forget the Window Treatments

Window treatments set the tone and ambiance; create a finished, polished look; and, can be a gorgeous design element that draws the eye. Don't forget this great selling feature.

8 tips when closing the deal on your new home

Before you sign an Agreement of Purchase and Sale – a binding legal contract – it’s important you understand your rights as a buyer.

One Just Has to Love Tonka and Kubota

What does Tonka and Kubota have to do with real estate? Nothing, but I think it is important you know the real estate agent you're working with. 

Robbin Corry Makes Buying
or Selling Houses Easy. 

For a great experience buying or selling your home, contact Robbin Corry, your property girl to get started. 

You can opt-out at any time. If you want more info about our mailing list, please contact us.