Nearly six out of 10 millennials residing in the Greater Toronto Area haven’t yet given up on their ambitions to own a home one day but many believe they will have to relocate in order to do so and some are even willing to seek out remote jobs to make it happen, a new survey suggests.
conducted by Leger reveals that 59 per cent of GTA residents between the ages of 26 and 41, who do not currently own a home, still believe that they will some day.
Another 37 per cent said that they would have to relocate to realize the dream of home ownership while 13 per cent didn’t want to say.The survey also found that a plurality of GTA residents would change employers in order to be able to work fully remote. Nationally, the percentage of respondents who said that they would change jobs in order to work remotely was lower – about 40 per cent.
However, it should be noted that the cost of buying a home in the Greater Toronto Area is still limiting for many residents with the average benchmark price in July coming in at $1,074,754. Of those who plan to purchase a home in the next five years, about 47 per cent said that they would do so in their current city while 45 per cent said that they would relocate.
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