November 19, 2024
FOR IMMEDIATE RELEASE
Ottawa, ON – Today, Statistics Canada published a report on housing affordability. This revealed that Canadians are continuing to live through a housing hell, with 45 percent of Canadians saying that they are “very concerned about their ability to afford housing costs.”
Additionally, 34 percent of Canadians reported that at least one of their household members had experienced significant financial difficulty due to increases in housing costs while 24 percent reported being dissatisfied with housing affordability. Another 21 percent said that they had been majorly or severely impacted by rising mortgage rates.
Among young Canadians, 59 percent reported being very concerned about their ability to afford housing, and 51 percent had moving plans that were impacted by rising prices.
After nine years of the NDP-Liberal government, housing has become unaffordable. Since Trudeau became Prime Minister in 2015, the cost of a downpayment, rent and mortgage have all doubled as Canadians suffered through the worst housing inflation in the G7.
And as a result of the skyrocketing cost of living, 35 percent of Canadians reported that their household had difficulty meeting their financial needs in the past twelve months. This includes basic necessities like transportation, housing and food.
Only Common Sense Conservatives have a plan to build the homes Canadians desperately need. We will axe the sales tax on new housing under $1 million and tie federal funding to housing completions, not photo-ops.
