Let’s face it, many Canadians are feeling the heat of the current housing market situation. Following another interest rate hike, home ownership is down, rental costs are up and, for those in BC and Ontario — the two most expensive provinces to live — the tumultuous market isn’t going away anytime soon.
While home ownership has long been a life goal for many Canadians, the Chartered Professional Accountants of Canada (CPA Canada) Housing Headache Study finds that half of Canadians who do not currently own a home believe it is unlikely that they will ever be able to purchase one. The study also dug into the reasons why.
Canadians and their homeownership concerns
The Housing Headache Study — which polled 2,000 Canadians from coast-to-coast — revealed that, in BC, 93% of non-homeowners stated housing availability in their desired area is the…