The survey additionally highlighted Canada’s ongoing challenges with housing affordability with 38% of those that took half saying they’re very involved about having the ability to afford housing prices or hire due to rising costs. This was eight share factors increased than in 2022.
Once more, the decrease earnings individuals are affected extra with round half being very involved about housing prices. Nevertheless, throughout most earnings quintiles those that hire are extra involved about housing prices (58-61%) than those that personal their properties (31-38%). Renters and homeowners within the highest earnings quintile have been much less seemingly than these in decrease earnings quintiles to report having this concern.
Younger Canadians
Younger Canadians proceed to be some of the challenged teams financially, with 55% of these aged 25 to 44 years reporting that rising costs have been drastically affecting their capability to fulfill day-to-day bills in spring 2024. By comparability, simply 28% of seniors stated this.
Youthful adults are additionally extra more likely to categorical concern about housing prices (56% of 15-34 yr olds) in comparison with these aged 65 and above (19%).
Greater than half of households with youngsters (55%) and those that determine as having a incapacity (57%) additionally report struggling to make ends meet as a consequence of rising costs, at ranges increased than the typical throughout the broader inhabitants.