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By Josh Hall | @Vancan19

owning a home is out of reach, many say

Habitat for Humanity highlights the ripples of the Canadian housing crisis

Nov 15, 2024 | 11:16 AM

Four in five Canadians say homeownership is a luxury, according to a new Affordable Housing survey conducted by Habitat for Humanity Canada.

While most Canadians — 58 per cent — agree that the middle class still exists in Canada, the majority — 82 per cent — are worried the lack of affordable housing is contributing to shrinking the middle class, the survey also found.

“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.”

Habitat for Humanity Canada is the country’s only national affordable homeownership organization, therefore has a large stake in this issue.

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In 2023, Habitat broke ground on two new duplexes in Red Deer’s Evergreen community, and those were completed in spring 2024.

Those represented the 49th and 50th builds ever in central Alberta, with the 65th local family served over the past 30 years through the Buy Back Program.

That program allows Habitat Red Deer to repurchase an existing Habitat-built home from a family who is ready to move on.

The homeowner family receives the equity accrued over the time they occupied the home. The Buy Back program ensures Habitat Homes will serve multiple families for many years in the affordable homeownership pool.

“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.”

In fall 2024, Habitat Red Deer launched its Critical Repairs Program to support homeowners with critical home repairs and modifications.

This program aims to keep more homes safe and decent for families and individuals. The Critical Repairs Program is modelled to mirror the Affordable Homeownership Program, with work completed by Habitat Red Deer (or in partnership with Habitat Red Deer), an interest-free loan, and affordable monthly payments tailored to each partnering family or individual.

New builds are also coming to the area in 2025, the organization says.

According to the survey’s Alberta respondents, the overwhelming majority of residents in this province, at 93 per cent, agree that there is a shortage of affordable housing in Canada.

Those who believe the goal of owning a home is out of reach make up 79 per cent of respondents from Alberta.

Gen Z Canadians are the most concerned, with 73 per cent saying they are worried about saving enough money for a down payment to buy a home.

The full survey can be found at habitat.ca.