(MENAFN- GlobeNewsWire - Nasdaq) Ripple effects of crisis weighing heavily on Canadians: Habitat for Humanity
82% of Canadians worry the housing crisis is impacting our overall health and well-being 78% believe the inability to own a home is contributing to the wealth gap in Canada 66% of Gen Z Canadians have considered 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 national affordable homeownership organization, has released its third annual Affordable Housing Survey, revealing Canadians' attitudes towards the homeownership gap and the nation's deepening housing crisis. The vast majority of Canadians (84%) now say that buying a home feels like a luxury and 88% 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 Canada's housing crisis, including its impact on mental health and well-being, and a growing economic and generational divide:
While most Canadians (58%) agree that the middle class still exists in Canada, the majority (82%) are worried the lack of affordable housing is contributing to shrinking the middle class . The majority of Canadians (74%) agree that communities are being fractured by a lack of appropriate housing for low- and middle-income people. Over half of Canadians (59%) worry about sacrificing other basic needs like food, living essentials, clothing, and education in order to afford their rent or mortgage payments. Four-in-ten believe the stress of not being able to buy a home is difficult for them to manage (41%) . For those who do own a home, 39% believe that the cost of their mortgage is impacting their mental health and well-being .
Key Gen Z and Millennial survey findings:
Two-thirds of Gen Z Canadians (66%) and almost half of Millennials (48%) have considered delaying starting a family because they can't afford a suitable home.
Four-in-ten Gen Z (44%) and Millennials (40%) say they have fewer job opportunities because they had to move to a more affordable area.
Almost one-third of Canadian Millennials (29%) and Gen Z (25%) 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%).
At the same time, year-over-year, the findings continue to show that Canadians increasingly place high value on homeownership as the vast majority believe homeownership can create more stability in one's life (87%), strengthen one's financial future (86%), and lead to a better future for one's children (81%).
“Canadians are sending a clear message: the housing crisis is no longer just about housing,” says 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.”
“Despite homeownership being out of reach for so many, Canadians continue to believe in its benefits. Homeownership can't just be the privilege of the wealthy or lucky few,” adds Barata.“At Habitat we see the transformational change that happens when families own their own home, affordably. The security and peace of mind benefit their health, economic opportunities and investments in their community. It benefits all of us.”
During the next federal election, political parties will have to recognize that Canadians are clear on the need to tackle the housing crisis collaboratively , the survey reveals, with Canadians believing that solving the crisis should be a non-partisan issue (75%).
While Canadians are pessimistic about the federal government's housing goals, they are clear on the need to provide a pathway for people to own their own home:
Most Canadians (68%) think it is not likely that the federal government will achieve its housing goal of building 3.87 million new homes by 2031. When asked what actions governments should prioritize to tackle the housing crisis, Canadians favoured lowering fees and taxes for home buyers (64%), creating programs to encourage affordable homeownership (46%) , and the conversion of unused space for housing (44%).
“Helping Canadians achieve affordable homeownership is crucial to tackling the housing crisis, and should be a public policy priority,” adds Barata.“Habitat is at the centre of meeting this housing challenge. By using the tools we have now and playing an active role in driving systemic changes, we're bringing people together to build strong, inclusive communities based on everyone having an equal opportunity to own their own home should they choose.”
For more information on the survey, visit habitat.ca/en/news/2024housingsurvey . To learn more about Habitat Canada's programs and advocacy, visit .
About the survey
Habitat for Humanity Canada commissioned Leger to survey 1510 Canadians, 18+, between August 22 and September 2, 2024, using Leger's online panel. No margin of error can be associated with a non-probability sample (i.e. a web panel in this case). For comparative purposes, a probability sample of 1000 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 charitable organization that brings communities together to help families build strength, stability and independence through affordable homeownership.
Habitat's unique national affordable homeownership progra allows eligible low- to moderate-income families to purchase a home at fair market value with an affordable mortgage. With the generous support of donors and volunteers, and working with 45 local Habitats in every province and territory, we provide a solid foundation for better, healthier lives.
Habitat for Humanity Canada is a member of Habitat for Humanity International, which was established in 1976 and has grown to become a leading global nonprofit working in more than 70 countries. For more information, please visitText> and follow on social @HabitatCanada.
About Leger
Leger is the largest Canadian-owned market research and analytics company, with more than 600 employees in eight Canadian and US offices. Leger has been working with prestigious clients since 1986.
Media contacts
Christina Vanin, The Edit PR: Text>... , (416) 904-3086
Jennifer Fowler, Director, Communications, Habitat for Humanity Canada: Text>... , (437) 317-8581
A photo accompanying this announcement is available at Text>
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