4 in 10 Parents of Young Ontario Homeowners Financially Helped Their Child Achieve the Dream of Home Ownership
Conducted by Abacus Data for OREA, the Housing Affordability in Ontario: Perceptions, Impacts, And Solutions (Wave 2) report found that 4 in 10 parents of young, homeowner adults (aged 18 38) helped their child financially with the purchase.
- Conducted by Abacus Data for OREA, the Housing Affordability in Ontario: Perceptions, Impacts, And Solutions (Wave 2) report found that 4 in 10 parents of young, homeowner adults (aged 18 38) helped their child financially with the purchase.
- Of those that helped their children, 44% dipped into their own general savings to support their childs dream, with 15% borrowing from their own retirement savings or investments.
- For parents of those young adults who do not own property, 91% of them say that it is important that their children be able to eventually buy a home.
- More homes and more affordable choices is what will help frustrated young families finally get the keys to a new home.