Most Canadians view home ownership as an unattainable luxury amid the worsening housing crisis, says a new Habitat for Humanity Canada report.

Habitat’s third annual affordable housing survey found that 84% of Canadians now believe buying a home is a luxury, with 88% of renters feeling home ownership is entirely out of reach.

The survey underscores the profound impact of the housing crisis on Canadians’ well-being and economic security, said Habitat. (Canada’s housing sector is widely considered to be in a crisis due to a chronic lack of supply, high demand, and high sale prices and rents prevalent in most markets.)

“Canadians are sending a clear message: The housing crisis is no longer just about housing,” says Pedro Barata, president and CEO of Habitat for Humanity Canada, in a news release.

“This is particularly evident for young Canadians, who are rethinking or delaying major life decisions to achieve homeownership, signalling a deep and lasting impact on future generations and society as a whole.”

According to the survey, 82% of Canadians are concerned that the housing crisis is negatively affecting the health and well-being of communities. Furthermore, 78% feel that the inability to afford home ownership is deepening the wealth gap across the country.

For younger generations, the struggle to buy a home is having substantial life consequences, with 66% of Gen Z Canadians considering delaying family planning due to housing unaffordability.

The report also highlights the stress that the housing market places on Canadians, with 41% of respondents feeling that the pressure to afford a home is impacting their mental health, and nearly 40% of homeowners reporting mortgage-related stress.

Additionally, 59% of Canadians worry that to afford rent or mortgage payments, they may need to compromise on essentials such as food, clothing, and education.

Barata called for inclusive housing policies.

“Despite homeownership being out of reach for so many, Canadians continue to believe in its benefits,” he said.

“Homeownership can’t just be the privilege of the wealthy or lucky few. At Habitat, we see the transformational change that happens when families own their own homes, should they choose.”

Leger conducted the survey on behalf of Habitat between August 22 and September 4, using the polling firm’s online panel. A total of 1,510 Canadians aged 18 and over were surveyed.

According to Habitat, no margin of error can be associated with a non-probability sample, a Web panel in this case.

Founded in 1985, Habitat for Humanity Canada is a national non-profit groupd that brings communities together to help families build strength, stability and independence through affordable homeownership. 

Photo: Courtesy of Habitat for Humanity