One housing expert says a national housing survey fails to address the problems facing millennials.
To mark National Housing Day on Tuesday, Canada Mortgage and Housing Corp released the results of a national consultation on the current state of the housing market in the country.
But speaking on CKNW’s Vancouver Real Estate Today, UBC professor and founder of Generation Squeeze, Dr. Paul Kershaw, said the results are unbalanced.
“I think the national housing strategy report, regrettably reflects an outdated perspective on who’s at risk in the national housing market. The report, for example, referred to seniors 27 times in the study, but by contrast, there were only four references to young Canadians,” he said.
“It used to take five years to save a 20 per cent down payment on an average home in Canada back in 1976. Now it takes 12 years of full time work. Nothing of that is really captured sufficiently in this report of the national housing strategy.”
Over 7,000 Canadians were surveyed, and a final report is expected to be released by the federal government in early 2017.