Majority Of Renters 'Seriously' Consider Leaving GTA: Housing Affordability Worsening [POLL]

housing (Photo courtesy of fumigene via Flickr.com)

The rent is just too damn high. And so is the cost of owning a home in the Greater Toronto Area. In fact, the affordable housing situation in the GTA is worsening according to renters and homeowners.

READ: Will Justin Trudeau Include A Housing Strategy For Renters In His Campaign?

A new Angus Reid Institute poll finds about 59 per cent of renters are “seriously” considering leaving the GTA given the high cost of owning a home.

Renters aren't alone. Of the 831 GTA residents surveyed, a total of 47 per cent are “seriously thinking of leaving the GTA” due to housing prices.

One-third of non-homeowners say they would like to buy a home right now — but just can't afford it.

And more than two-thirds of GTA residents think the government needs to further intervene in the housing market in order to improve housing affordability.

READ: Toronto Vs. The Top Rental Real Estate Markets In The World

Respondents “overwhelmingly” support of a foreign buyers’ tax in Ontario and a tax on vacant homes to help with the affordable housing crisis.

The survey's analysis states that “Among residents under age 35, fully six-in-ten are hoping the market cools off at least slightly, though it’s notable that nearly a quarter of those ages 55-plus – perhaps reflecting concern for children or grandchildren who are currently priced out of the market – say the same.”

READ: Toronto’s 35 Neighbourhoods: Where Is It Cheaper To Rent Or Own A Condo?

Ultimately, the poll finds that both homeowners and renters agree that the price of real estate in the Greater Toronto Area is “unreasonably high,” and that it may be too late for government intervention to burst the bubble they say is hurting the region.

both homeowners and renters agree that the price of real estate in the Greater Toronto Area is unreasonably high Source: AngusReid.org

READ: Doug Ford Promised Ontario This Housing ‘Plan’ Pre-Election: What Will Become Of It?

Renting

Majority Of Renters 'Seriously' Consider Leaving GTA: Housing Affordability Worsening [POLL]

READ: Will Justin Trudeau Include A Housing Strategy For Renters In His Campaign?

READ: Toronto Vs. The Top Rental Real Estate Markets In The World

READ: Toronto’s 35 Neighbourhoods: Where Is It Cheaper To Rent Or Own A Condo?

READ: Doug Ford Promised Ontario This Housing ‘Plan’ Pre-Election: What Will Become Of It?

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While February sales remained 76% below the 10-year average, BILD says recently announced HST relief on new homes, combined with moderating prices and strong inventory, creates a compelling case for buyers to act.

For companies with smaller portfolios and less capital, AI overhauls and massive returns aren't a quick process. Still, optimism surrounding the autonomous tech persists.

The Ontario Real Estate Association called development charges "one of the most direct levers available to reduce costs and accelerate construction" of new housing.

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Windowless dens have been criticized, by everyone from architects to end users, for their lack of light, air flow, and temperature control. In short, they're a hot topic.