What CMHC’s housing survey tells us about Canada’s affordability crisis – MPA Mag

11 Sep. 2024

A growing number of Canadians are feeling the financial squeeze as housing costs continue to rise, according to data from the 2022 Canadian Housing Survey.

Conducted by the Canada Mortgage and Housing Corporation (CMHC) and Statistics Canada, the survey sheds light on key housing issues such as affordability, core housing needs, and the impact of rising living costs.

In 2022, 22.6% of households reported they “often or sometimes” face financial challenges due to rising rent or mortgage payments, nearly doubling from 12.2% in 2018. This rise comes against the backdrop of soaring housing costs in many parts of the country.