Canadians Losing Hope in Housing Crisis

Alshaar Ansari
Alshaar Ansari News Politics
6 Min Read
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Pursuit of property has become an imaginary idea for a large number of Canadians who are seeing the Liberal government struggle with the housing crisis. According to recent polls, the outlook is grim; now 80% of Canadians believe that owning a home is only possible for the wealthy elite. Just one year ago, this percentage was 11% lower at 69%.

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Source: Pixabay

The federal budget released by the Liberal government earlier this month does little to help regular people with their housing problems. Though they promised billions in affordable housing initiatives, $111.2 billion in new spending over five years combined with a $40 billion deficit and not one plan to balance books hasn’t left Canadians feeling very hopeful.

Only 23% of Canadians think enough is being done by governments at any level (down from 27%). And it’s hard to be surprised when just 21% support this year’s federal budget – which also happens to be close with last year’s record-low right after pandemic broke out. So many people doubt what Liberals can do about anything right now because they don’t trust them on these issues either.

Earlier this month CIBC came out with poll numbers that echoed what many were already thinking: 76% of Canadians say getting into today’s housing market is next to impossible. Even scarier still? Seventy two percent have given up hope altogether; nine points higher than last year (2021) and similar to results during another Ipsos survey conducted back in 2022 where sixty three percent said they’d abandoned dreams owning homes themselves ever again.

Housing Crisis At Peak In Canada Once Again

Numbers are also down among non-owners feeling secure financially outside homeownership; now only seventy one percent believe financial security can be achieved without owning property – nine points less than before (2021).

Prime Minister Justin Trudeau’s promise he would build nearly four million new homes by 2031 has been met with skepticism – especially considering this would require 1.096 houses built every minute in Canada for next seven years without stopping once (based on current housing start averages). And even if we take them at their word that’s still only 1.87 million by 2031 which is less than half what they promised in budget but then when have Liberals ever met any of their housing targets?

Conservative leader Pierre Poilievre criticized Trudeau, saying “Everything he’s spending on has gotten worse. He promised deficits would make housing affordable but it ended up doubling the cost of rent and mortgage payments and down payments to buy a house.”

In a recent survey conducted on the Scoop Canada YouTube Channel, participants were asked to share their opinions regarding Prime Minister Trudeau’s housing plan. The findings revealed a significant sentiment among Canadians, with a majority expressing skepticism towards the plan, deeming it as comprising mere empty promises and unattainable aspirations. Your participation in this discourse is valued, and we invite you to contribute your vote to ensure that a diverse range of viewpoints is represented on this consequential matter.

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Source: Scoop Canada YouTube channel

According to another Ipsos poll, 52% believe there will be insufficient housing built to keep up with demand – a sixteen point increase from last year (2021). A staggering fifty-eight percent think average prices are going up; twenty three points higher than before (2018).

Most Canadians think prices are going to rise further so perhaps many homeowners might not be interested in selling right now. Only four percent said they were very likely or somewhat inclined while twelve percent indicated some possibility of doing such thing. Meanwhile eighty four percent were either not very likely or not at all apt to sell their homes.

With the deepening of this housing crisis, an ever-increasing number of Canadians have been indicating to record immigration levels as being among its root causes. Half of Canada’s population is convinced that a high demand for houses will continue to be fueled by people coming into the country; this represents a 16% rise from last year alone. The widely-held belief was that about half million permanent residents were entering Canada each year – however, with over two million immigrants arriving annually this perception has been shattered.

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Canadians are disenchanted with the Liberal government’s handling of the housing crisis, which they see as having been ineffective at best and counterproductive at worst. Many have given up on ever realizing their dreams of owning a home because this situation continues to worsen. As things get worse around us we need urgent solutions now more than ever before so we must act decisively against such pressing matters like these ones.

Last Updated on by Alshaar Ansari

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