Politics · Canada · 7 hrs ago
Young Canadians could wait decades for housing affordability
Housing affordability remains out of reach for many young Canadians, despite recent declines in home prices.
The average Canadian home was valued at about $680,000 in 2025, and buying it still requires a mortgage of roughly $544,000 after a 20 per cent down payment.
To keep housing costs below 30 per cent of income, a buyer with that mortgage would need to earn about $131,000 a year, while full-time workers aged 25 to 34 typically earn $68,500.
At current income growth, catching up could take about 26 years nationally, with estimates ranging from 36 years in Ontario to 66 years in Metro Vancouver.
Canada’s National Housing Strategy is due for renewal in 2027, and governments are expected to keep funding housing while considering deeper changes.
The debate must address how young people manage during the long wait, as well as how to restore affordability.
The piece calls for more homebuilding, faster approvals, more housing density and non-market homes, and action on speculative demand.
Canada’s housing affordability may take decades to return, leaving young Canadians facing a long wait, according to a Globe and Mail opinion article.
The article estimates that, if earnings grow by 3.5 per cent a year, they would catch up with current national home values in about 26 years.
It says a typical full-time worker aged 25 to 34 earns $68,500, while an income of about $131,000 is needed to carry a mortgage on an average home within an affordability guideline.
The article argues governments should address the costs young Canadians face while waiting, as well as continue efforts to improve affordability.
Canada’s National Housing Strategy is due for renewal in 2027.
- Who
- Young Canadians and other people who do not own homes face prolonged unaffordability. Governments and policy makers are urged to address the effects.
- What
- A Globe and Mail opinion article says housing may not become affordable for decades and asks how young Canadians should be supported while they wait.
- When
- Published on October 30, 2026. The National Housing Strategy is due for renewal in 2027.
- Where
- Canada, with longer estimated waits in Ontario, British Columbia and several named cities.
- Why
- Home prices remain high relative to earnings, and the article says policy makers primarily rely on earnings growth to close the gap.
This story does not have two clearly opposing sides.
Average Canadian home values peaked at roughly $801,000 in 2025 dollars, according to the article.
Average home values had fallen to about $680,000 in 2025 dollars.
The Globe and Mail published the article on the long wait for housing affordability.
Canada’s 10-year National Housing Strategy is poised for renewal.
The article estimates affordability would be restored nationally if earnings grow by 3.5 per cent annually.
- Mortgage
- Roughly $544,000 after a 20-per-cent down payment on the average Canadian home
- Affordability income
- About $131,000 a year
- Typical earnings
- $68,500 for a full-time worker aged 25 to 34
- National estimate
- About 26 years for earnings to catch up with current home values
- Ontario
- Approximately 36 years for earnings to catch up with home prices
- British Columbia
- Approximately 45 years for earnings to catch up with home prices