Canada Housing Crisis A Growing Struggle for Stability and Affordability
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Canada is grappling with a severe housing crisis that touches both renters and homeowners, compounded by soaring rents, growing food bank reliance, and the highest household debt-to-disposable income ratio in the G7. Many Canadians feel homeownership has become a luxury, with 84% believing it’s unattainable. This crisis is impacting mental health, delaying family planning, and contributing to Canada’s record-low fertility rate. The wealth gap between homeowners and renters further highlights the dire state of affordability.
Habitat for Humanity Canada's recent Affordable Housing Survey underscores the depth of the problem, revealing that most Canadians believe homeownership fosters stability and financial security. However, 82% see the housing crisis eroding the middle class, with nearly 60% sacrificing basic needs to cover housing costs. Younger generations are particularly affected, with many delaying life goals and even considering moving abroad due to unaffordable housing.
Canadians overwhelmingly view addressing the housing crisis as a priority, urging political parties to collaborate on solutions. While the federal government aims to build 3.87 million homes by 2031, 68% doubt this goal is achievable. Many advocate for measures like reducing taxes and fees for buyers, expanding affordable housing programs, and converting unused spaces to residential areas to tackle the crisis effectively.
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