Canadians consider owning a home a luxury: survey data.

Most people consider owning a home in Canada a luxury, as the housing market situation is unfavorable. This is reported by the publication Torontovka.

84% of respondents surveyed by Habitat for Humanity agree with the statement that buying a home 'feels like a luxury.'

88% of renters believe that homeownership has become unattainable.

Residents of Canada are worried that unaffordable housing is leading to a contraction of the middle class. This concern spans all groups of people: 82% from different generations agree with the statement that buying a home is a luxury.

Housing unaffordability, along with its high prices, negatively affects the mental health and well-being of 82% of people. 78% claim that the inability to buy housing deepens the wealth gap, and 66% of young people from Generation Z even consider postponing starting a family due to insufficient housing.

'Canadians are sending a clear signal: the housing crisis is no longer just about housing,' said Habitat for Humanity Canada Executive Director Pedro Barata.

According to the National Bank of Canada, the average price of housing in the 10 largest cities in Canada in the third quarter was $795,540. Such payments consume 56.6% of income with a down payment of about 7%.

Canada has changed its visa issuance policy to limit immigration. Now unconditional 10-year multiple-entry visas are no longer issued. Immigration officials have been given more authority regarding the type and duration of visas. This means that tourists cannot be assured of obtaining a long-term visa.