Generation Y and Xers Think Ownership Makes Most Sense

According to a recent Ipsos Reid survey for the Ontario Real Estate Association, home ownership is a focus for the younger residents of Ontario.

  • The importance of ownership ranked high among 77% for Generation Y or Eco Boomers (born between 1972 and 1992) and 79% for Generation X members (born between 1966 – 1971)
  • Not only does the large majority of Generation X & Y’ers believe that owning a home makes more sense than renting, they have a positive outlook on the economy and current real estate market in Ontario.
  • Within these demographics there is keen understanding of the long-term investment potential of residential real estate.
  • One-third of Gen X’ers and 39% of Gen Y believe the Ontario real estate market will be stronger in the next year.
  • Over the next 10 years, approx. 50% of Gen X & Y members believe the provincial real estate market will continue to be strong.
  • Just under 20% are ‘very likely’ to buy a home within the next two years.
  • Approximately 75% of Gen Y and X say owning a home gives them a sense of pride.

For those Gen X & Y’ers who currently own, the importance of Home Staging when they are ready to sell will be critical. Both segments have high expectations of what they want in their home and are prepared to pay more for a professionally staged home.