Canada has traditionally been regarded as a hospitable destination for newcomers, but not in terms of housing or income. This morning, Statistics Canada issued its Housing Experiences survey.
The study looked at how different demographics of Canadians felt about housing in 2018. The majority of people appear to be satisfied; however, it looks that elderly families that purchased a house a long time ago are the ones who are happy.
Minorities and new immigrants appear to be dissatisfied in large numbers.
According to the latter, two out of every five recent immigrants are unsatisfied with their accommodation. The majority of Canadians were happy with their living situation. In 2018, the agency discovered that 8 out of 10 Canadians (82%) were satisfied with their living conditions. This data appears to be skewed toward older, more recognized households.
Housing satisfaction was substantially lower among recent immigrants and visible minorities.
In 2018, just 3 out of 5 recent immigrants (63%) stated they were satisfied. That means that 2 out of every 5 persons who arrive in Canada find themselves in a less-than-ideal circumstance – and that was in 2018. The issue has most certainly gotten a lot worse since then, with home prices soaring 42 per cent.
Visible minorities are likewise less satisfied with their living situation. Visible minorities are likewise less satisfied with their living situation. They discovered that Black (69%), Chinese (74%), and South Asian (75%) households were less satisfied. The national statistics agency does not explain why, although the pay disparity is most definitely a factor.
In Canada, visible minorities earn far less than their Caucasian counterparts.
According to the Conference Board of Canada, some Canadians’ wages are 30% lower. Earning a lot less would put you in a lot of trouble when it came to buying or renting a home. Housing remained a barrier for some even when it was “affordable” ten years ago.
When it comes to homeownership, they discovered that the majority of Canadians live in their own homes. According to the poll, 73 per cent of households in 2018 lived in housing where the owner was a family member. With an ownership percentage of 85 per cent, Chinese Canadians are the most likely to own their home. It’s not unexpected, given that 90 per cent of Chinese residences are owner-occupied. The average was 78 per cent for senior citizens, 74 per cent for South Asians, and 73 per cent for veterans.
No other Canadian populations have as high ownership levels. Some can’t even claim that homeowners make up the majority of the demographic.
The percentages of minorities were reported in Black (48%) and recent immigrant (44%) households, as well as LGBTQ2+ (47%) households. This tendency can be explained by a salary disparity and rising prices. Without a more thorough investigation, it’s unclear to what extent this is true.
In general, elder households in Canada have a greater homeownership rate. When you consider that two out of every five recent immigrants are unhappy with their homes, it makes sense. Not only did the older generation buy when prices were lower, but they also rented when prices were lower. When housing became frothy five years ago, they experienced a significant increase in their net worth. Their profit also serves as a stumbling block for first-time buyers.
Although the study did not focus on age, a breakdown would have been interesting to examine. It’s reasonable to infer that younger households without a legacy of money are similarly affected.