82% of Canadians are concerned that the housing crisis is impacting our overall health and well-being 78% say lack of homeownership is contributing to Canada’s wealth gap 66% of Gen Z Canadians believe they are considering delaying starting a family because they can’t afford a suitable home.
TORONTO, Nov. 12, 2024 (Globe Newswire) — Habitat for Humanity Canada, the country’s only affordable homeownership organization, announces its third annual survey on affordable homeownership. , which sheds light on Canadians’ attitudes toward the homeownership gap and the country’s worsening housing crisis. A majority of Canadians (84%) now feel that buying a home is a luxury, and 88% of renters say their goal of owning a home in Canada is no longer achievable.
This year’s study examines the broader impacts of Canada’s housing crisis, including the impact on mental health and well-being and widening economic and generational disparities.
A majority of Canadians (58%) agree that a middle class still exists in Canada, but a majority (82%) believe that a lack of affordable housing is partly responsible for the shrinking middle class. I am concerned that this may be the cause. More than half (59%) of Canadians are worried about sacrificing other basic needs such as food, necessities, clothing and education to pay their rent or mortgage. Four in 10 people find it difficult to cope with the stress of not being able to buy a home (41%). Among homeowners, 39% believe that mortgage costs are having an impact on their mental health. health and happiness.
Key findings for Gen Z and Millennials:
Two-thirds (66%) of Gen Z Canadians and almost half (48%) of Millennials are considering delaying starting a family because they can’t afford suitable housing.
Four in 10 Gen Z (44%) and Millennials (40%) say they have had fewer job opportunities because they had to move to cheaper areas.
Almost a third of Canadian Millennials (29%) and Gen Z (25%) believe they would consider moving to another country to find affordable housing. Gen Z is more concerned than any other generation about saving enough money for a down payment on a home. (73%).
At the same time, the survey results show that Canadians increasingly value homeownership, believing it can provide stability in their lives (87%) and strengthen their financial future (86%). , continues to demonstrate an increasing emphasis on homeownership. , leading to a better future for children (81%).
“Canadians are sending a clear message: The housing crisis is no longer just about housing,” said Pedro Barata, president and CEO of Habitat for Humanity Canada. “This is especially true for young Canadians who are reconsidering or postponing major life decisions to achieve homeownership, with deep and lasting impacts on future generations and society as a whole. ”
“Despite homeownership being out of reach for many, Canadians continue to believe in its benefits. Homeownership is not just the privilege of the wealthy or the lucky few.” Mr. Bharata added. “At Habitat, we see the transformation that occurs when families own their own homes at an affordable price. The safety and security that benefits their health, economic opportunity, and investment in their communities. It benefits us all.”
During the next federal election, political parties need to recognize that Canadians clearly recognize the need to work together to tackle the housing crisis, research finds They think it should be a partisan issue (75%).
Although Canadians are pessimistic about the federal government’s housing goals, they are clear about the need to provide people with a path to owning their own home.
Most Canadians (68%) think it is unlikely that the federal government will meet its housing goal of building 3.87 million new homes by 2031. When asked what the government’s priority actions should be to address the housing crisis, Canadians supported lowering housing fees and taxes. buyers (64%), creating programs to encourage affordable homeownership (46%), and converting unused space into housing (44%).
“Helping Canadians achieve affordable homeownership is critical to addressing the housing crisis and should be a public policy priority,” Barata added. “Habitat is at the heart of addressing this housing challenge. By using the tools we currently have and playing an active role in driving systemic change, we are bringing people together. We are building strong, inclusive communities based on everyone having an equal opportunity to own the home they want.”
For more information on the survey, visit habitatt.ca/en/news/2024housingsurvey. To learn more about Habitat Canada’s programs and advocacy, visit habitat.ca.
About the survey
Habitat for Humanity Canada used Leger’s online panel to survey 1,510 Canadians aged 18 and over between August 22 and September 2, 2024. You cannot associate a margin of error to a non-probability sample (i.e., a web panel in this case). For comparison purposes, a probability sample of 1,000 respondents would have a margin of error of ±2.5% 19 times out of 20.
About Habitat for Humanity Canada
Founded in 1985, Habitat for Humanity Canada is a national charity that unites communities and helps families build strength, stability and independence through affordable homeownership.
Habitat’s unique national affordable homeownership program enables eligible low- to moderate-income households to purchase homes at fair market value with affordable mortgage loans. With the generous support of donors and volunteers, and in collaboration with 45 local habitats in every state and territory, we are providing a strong foundation for better, healthier lives.
Habitat for Humanity Canada is a member of Habitat for Humanity International, which was founded in 1976 and has grown to become one of the world’s leading non-profit organizations with operations in more than 70 countries. For more information, visit habitat.ca and follow us on social @HabitatCanada.
About Leger
Leger is the largest Canadian-owned market research and analysis firm with more than 600 employees in eight offices across Canada and the United States. Leger has been working with prestigious clients since 1986.
media contact
Christina Vanin, The Edit PR: christina@theeditcanada.com, (416) 904-3086
Jennifer Fowler, Director of Communications, Habitat for Humanity Canada: jfowler@haveat.ca, (437) 317-8581
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cfcf939f-4af0-4cb7-b8ad-508c5159d38a.
