Exploring New Opportunities for Affordable Home Ownership

As more millennials look to become first-time homebuyers and boomers search for housing that better fits their needs, smart solutions are needed to ensure home affordability for years to come.

One idea being recommended by Ontario Realtors is more housing supply. To meet the needs of diverse families, it’s important to add more variety of homes to the market, such as townhouses, stacked flats and mid-rise buildings — and government can support these efforts.

“Over the past year, Ontario Realtors have been sounding the alarm on the lack of housing supply in the Greater Golden Horseshoe. It is imperative that governments work collaboratively with municipalities and developers in reducing the barriers that have impeded necessary growth in the housing market,” says Ettore Cardarelli, President of the Ontario Real Estate Association (OREA).

According to Ontario Realtors, increasing housing supply in the province is the best long-term solution to keep home ownership within reach for young buyers and future generations.

“OREA’s plan for increasing housing supply in Ontario includes speeding up building approval processes, encouraging building more ‘missing middle’ type homes and making sure infrastructure funding is targeted towards water, sewer, roads and transit to land already designated for development,” says Cardarelli.

Find more information at www.orea.com.

www.newscanada.com

Leave a Reply

Your email address will not be published. Required fields are marked *