A recent survey by Habitat for Humanity found that most Canadians are struggling with not being able to afford purchasing a home.
The organization’s annual ‘Affordable Housing Survey’ shows that while 78% of Canadians believe that the inability to afford a home is actively contributing to the country’s wealth gap, 82% worry that the housing crisis is impacting people’s health and well-being.
The vast majority, 84% of Canadian respondents said that owning a home feels like a luxury in this economy and 88% of renters surveyed indicated the goal of owning a home is completely out of reach for them, financially.
Many Canadians are also saying their inability to afford a home is impacting other aspects of their lives.
To this end, 66% of Gen Z Canadians have said they would delay starting a family because of their inability to buy a home and over half of all Canadian respondents, 59%, worry about sacrificing basic needs like food, living essentials, clothing and education in order to afford their rent or mortgage payments.
Mental health is being impacted too, with 41% of Canadians saying that the stress of not being able to afford a home is too difficult to bear.
“Canadians are sending a clear message: the housing crisis is no longer just about housing,” said Pedro Barata, President and CEO, Habitat for Humanity Canada.
“This is particularly evident for young Canadians, who are rethinking or delaying major life decisions to achieve homeownership, signaling a deep and lasting impact on future generations and society as a whole.”
As for Canadians’ hope for the future, most agree owning a home would be beneficial.
On stability, 87% of respondents said they believe owning a home would bring them a sense of security, if they could afford one. Additionally, 86% said that owning a home would strengthen their financial future and 81% said that it would contribute to a better future for their children.
Regarding how federal politics fit into the housing equation, most Canadians (68%) are feeling pessimistic about whether the government will achieve its goal of 3.87 million new homes being built by 2031.
“Helping Canadians achieve affordable homeownership is crucial to tackling the housing crisis, and should be a public policy priority,” added Barata.
Habitat for Humanity Canada hopes to help mitigate the overarching housing crisis issues throughout the country through the work they do.
In Victoria, Habitat for Humanity has built 34 homes in Greater Victoria and served 39 families.
In the coming month they will be gearing up for their annual gingerbread house fundraiser, which sees people and organizations from throughout Greater Victoria make elaborate creations in the name of raising funds.
