Reimagining Homeownership Why Canada Needs Bold New Solutions
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Homeownership in Canada is increasingly viewed as an unattainable goal, with many people—especially younger generations—feeling priced out of the market. According to recent research from Habitat for Humanity Canada, a significant majority of Canadians now consider homeownership a luxury. This perception is especially pronounced among renters and Gen Z, many of whom are delaying major life decisions like starting a family due to housing unaffordability. The emotional toll is also growing, as people express concerns about their long-term stability and quality of life.
The current housing strategies are not sufficient to address these challenges. While the federal government has taken steps to support first-time homebuyers, these efforts haven’t kept pace with rising prices, limited supply, and increasing demand. New, creative approaches are necessary—ones that include partnerships across government, private, and non-profit sectors. Solutions could involve policy reforms, financial assistance models, and alternative housing options like shared equity or co-housing models that reduce financial barriers.
If bold action isn’t taken, homeownership risks becoming permanently out of reach for millions of Canadians. This isn't just an economic issue—it's a social one that affects community cohesion and intergenerational opportunity. A collaborative, innovative mindset is essential to ensure future generations can afford to live in the communities they work and grow in.
Read the full article on: REAL ESTATE MAGAZINE
