Soaring Housing Costs Strain Canadian Households

The 2023 Affordable Housing Survey conducted by Habitat for Humanity Canada has highlighted that housing affordability remains a dominant concern for Canadians, alongside inflation and healthcare access. An alarming number of homeowners and renters are feeling the pinch as they struggle to balance soaring living costs with housing expenses.

Alarming Statistics on Housing Expenses

The survey revealed startling figures with nearly half of the Canadians (49%) spending over 50% of their income on housing, a situation even more acute among young adults aged 18-34 where 64% face the same plight. More than half of the population (58%) fears compromising basic needs to afford housing, while a staggering 92% acknowledge a shortage of affordable housing in Canada.

Youth and Housing Insecurity

Young Canadians are increasingly burdened by the housing crisis, with concerns about eviction and renoviction prevalent among those aged 18-24. The apprehension about continuous hikes in housing costs is shared by a vast majority (90%) of Canadians.

Call for Collective Action

Julia Deans, President and CEO of Habitat for Humanity Canada, emphasizes the potential for collaborative efforts to resolve the housing crisis. She advocates for a united approach involving governments, financial institutions, home builders, and citizens to enhance housing affordability.

The Value of Homeownership

The survey indicates a strong belief among Canadians in the benefits of homeownership, including stability, financial security, and improved health outcomes. There is a shared optimism about the positive impact of homeownership on future generations.

Optimism Amidst Challenges

Despite the daunting housing landscape, the majority of Canadians (69%) reject the notion that little can be done about the housing crisis. There’s a strong sentiment that immigration plays a crucial role in addressing the housing supply issue, and the private sector is also seen as a key player in creating affordable housing solutions.

Habitat Canada’s Advocacy for Housing Solutions

Habitat for Humanity Canada is actively advocating for comprehensive solutions to the housing crisis. This includes enhancing funding access for affordable housing projects and advocating for tax reforms to lower construction costs. The organization’s commitment to creating equitable and sustainable housing opportunities is evident in its ongoing programs and advocacy efforts.

Survey Methodology: The survey, conducted by Leger’s for Habitat for Humanity Canada, involved 1505 participants across Canada, surveyed between August 17 and August 24, 2023, with a margin of error of ±2.5%, 19 times out of 20.