Demand Affordable Homeownership

This election, let your candidate know the importance of homeownership to Ontarians and the impact that recent government changes have had on that dream.

GOVERNMENT CHANGES IMPACTING YOU

As a result of stress tests on insured and uninsured mortgages, Ontarians have had their purchasing power reduced. This is making it harder for thousands of families to enjoy their dream of home ownership.

An average Canadian homebuyer who could have qualified to own a $400,000 home prior to government changes will now only qualify for a home worth roughly $315,000 after the fact*. This is roughly a 20% reduction. These changes impact anyone now applying for a mortgage.

*Numbers for illustrative purposes only

IMPACT ON HOMEBUYERS

15

reduction in housing activity in 2018, according to Chief Economist Will Dunning because of rising rates and federal government rule changes

28

decrease in the number of new CMHC insured homeowner mortgages insured in 2017

35,000

Ontario families will be excluded from the market in 2018 because of rising rates and federal government rule changes

HOMEOWNERSHIP HELPS BUILD FINANCIAL SECURITY

AS PER OUR ANNUAL CONSUMER SURVEY

79

agree that “real estate in Canada is a good long-term investment”

29

average down payment for recent first time homebuyers (2014-2017)

CANADIANS HAVE CONSIDERABLE EQUITY IN THEIR HOMES

4.0

TRILLION

53

EQUITY RATIO AMONG RECENT BUYERS

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