Housing Affordability Survey

Online real estate company Zoocasa conducted an online survey of over 1,300 respondents between Sept. 17 to Sept. 29 wherein 91 per cent of respondents said the cost of buying a home has risen faster than their income making it difficult for middle-class earners to buy their first home.

Despite the rising costs, respondents felt that home ownership was an important part of life in Canada: 31 per cent of respondents think, “people should own a home or property by the time they are between 31 and 35 years old,” while 29 per cent say this should happen between the ages of 26 and 30.

Homeowners felt that owning a home has helped them to build wealth. Yet, while 69 per cent of them feel that they have benefitted financially from owning a home, “54 per cent of these respondents say their housing costs have increased faster than their income since they purchased their home.”

You can read more results from the poll here: https://biv.com/article/2019/10/84-canadians-feel-housing-affordability-negatively-affects-their-lives