‘Record-high’ number of Canadians believe they’ll never own a home, new survey finds

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‘Record-high’ number of Canadians believe they’ll never own a home, new survey finds
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The survey of 2,000 people across Canada also found a steep increase in anxiety about inflation

, was taken by more than 2,000 people across Canada in December, 2022.

This outlook was inversely related with age, Roy said in a statement to the Star, with “most responses from those in the 18-34 age group showing significantly lower overall optimism.”has risen dramatically, according to the report, increasing eight per cent from just six months ago and 15 per cent year-over-year. Additionally, only 18 per cent of non-homeowners said they plan to purchase a home in the next five years — down six percentage points from the year before.

There’s another key factor: close to 60 per cent of all respondents said inflation has led them to become anxious over their finances. That’s a steep increase from when the figure was 40 per cent just six months ago. As such, Roy said: “Homeowners are less likely to switch from a fixed rate to variable rate, with 25 of existing mortgages at a variable rate versus 69 fixed.”

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