If you think you will never own a home in Canada, it turns out you’re not alone.
A new poll finds just two per cent of Vancouverites consider housing affordable.
That’s according to EKOS Research, which found that nationally just four in 10 Canadians rated housing as affordable.
What’s more, Canadians’ opinions on housing affordability don’t appear to be tied all that closely to their income levels.
The poll found that about half of respondents who consider themselves “poor” or “working class” believe that the cost of local housing is beyond their means.
The rate was 38 per cent and 37 per cent, respectively, with respondents who consider themselves “middle” or “upper class.”
WATCH: More affordable housing in Vancouver
President of the Greater Vancouver Real Estate Board Jill Oudil said buyers are getting frustrated from bidding wars in a market with a low supply.
“People are actually choosing to stay and renovate if they can’t make that next move that they really want to. So they’re going to stay a little bit longer until they can afford to do so,” said Oudil.
“A lot of people are getting creative with ways to, attain that next goal, whether it be getting a home with a rental suite such as that to help them.”
Canadians’ pessimism towards the housing affordability was greatest in the hottest markets, with Vancouver leading the charge.
Looking at other markets, only six per cent of respondents in Toronto said they believe housing was affordable. In Calgary, the number was 11 per cent; in Montreal, 22 per cent.
“It’s a deeply troubling finding that in certain portions of Canada, either geographically or societally, that this is a crisis level,” said Frank Graves, president of EKOS Research.
The results of the telephone poll of 5,658 Canadians, conducted between Jun. 1 and 19, considered accurate to within 1.3 percentage points, 19 times out of 20.
- With files from Michelle Morton and the Canadian Press
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