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First Time Home Buyers: Are Prices Too High?

On the path to homeownership, Generation Y faces three main roadblocks – and they’re not necessarily the same issues their parents experienced when buying their first home.



First Time Buyers

TD Canada Trust published new research that highlights the differences in the challenges Millennials say they face as first time buyers compared to the challenges Boomers recalled from when they first entered the market.

The findings point to big shifts in Canadian real estate in the last 30 years. The three obstacles facing Millenials are:

  • Saving a large enough down payment (57 per cent of Gen Y non-homeowners, versus 33 per cent of Boomer homeowners).
  • Property prices are too high for first time buyers (52 per cent of Gen Y non-homeowners, versus 16 per cent of Boomer homeowners).
  • Not earning enough to afford monthly mortgage payments (48 per cent of Gen Y non-homeowners, versus 13 per cent of Boomer homeowners).

The Canadian market has seen some pretty big price bumps in the last few years and Gen Y is well aware of that fact: half of Millennials think home prices will continue to increase over the next year and more than half (57 per cent) feel that saving a big enough down payment is a concern.

Call Mary Roy & Team, we can show you how easy home ownership can be and put these worries to rest by linking you with out preffered business affliates and help for every step along the way.

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Have you ever spent countless hours search through the MLS system seeing the same homes over and over again looking for the perfect home, hoping to find something new?   Then, when you do find what could be your dream home, you call the listing agent only to find out it has already sold?


Mary Roy & Team have been selling homes in the Durham Region since 1987!  Ranked in the top 1% of Realtors across the GTA and Durham Region, we know what it takes to get homes sold fast, and for the most money.We provide each of our clients with a comprehensive plan of action outlining exactly what will be done to get their home SOLD and for the MOST MONEY! We will provide you with up-to-date information on your marketplace, as well as the price and details of competing properties.