TORONTO — ’s third annual Affordable Housing Survey reveals the vast majority of Canadians (84 per cent) now say buying a home feels like a luxury and 88 per cent of renters say the goal of owning a home in Canada has become out of reach.
This year’s survey looks at the broader implications of the housing crisis, including its impact on mental health and well-being, and a growing generational divide.
The following are some survey highlights:
- Eighty-two per cent of respondents are worried the lack of affordable housing is contributing to shrinking the middle class.
- Seventy-four per cent agree communities are being fractured by a lack of appropriate housing for low- and middle-income people.
- Fifty-nine per cent worry about sacrificing other basic needs like food, living essentials, clothing and education in order to afford rent or mortgage payments.
- Four-in-10 believe the stress of not being able to buy a home is difficult for them to manage.
- For those who do own a home, 39 per cent believe the cost of their mortgage is impacting their mental health and well-being.
Survey findings among Gen Z and Millennials include:
- Two-thirds of Gen Z Canadians (66 per cent) and almost half of Millennials (48 per cent) have considered delaying starting a family because they can’t afford a suitable home.
- Four-in-10 Gen Z (44 per cent) and Millennials (40 per cent) say they have fewer job opportunities because they had to move to a more affordable area.
- Almost one-third of Canadian Millennials (29 per cent) and Gen Z (25 per cent) would consider relocating to another country to find affordable housing.
- Gen Z is more concerned than any generation with respect to saving enough money for a down payment on a home (73 per cent).
As a result of the findings, Habitat for Humanity has stated during the next federal election, political parties will have to recognize that Canadians are clear on the need to tackle the housing crisis collaboratively. Seventy-five per cent of respondents state the crisis should be a non-partisan issue.
The survey also found most Canadians (68 per cent) think it is not likely the federal government will achieve its housing goal of building 3.87 million new homes by 2031.
In terms of measures to help address the crisis, respondents favoured lowering fees and taxes for homebuyers (64 per cent), creating programs to encourage affordable homeownership (46 per cent) and the conversion of unused space for housing (44 per cent).
For more information on the survey, visit .
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