A new study from Canadian home renovator site easyrenovation.ca suggests Millennials (29–44) and Gen Z (18–28) aren’t feeling great about the current and future state of the housing market.
And lack of government action on housing supply is the No. 1 reason they feel shut out, the study said.
Across the country, 62% of Gen Z say buying a home isn’t achievable in their lifetime, citing high prices, stagnant wages, and policy inaction.
About 1 in 10 (11%) of Gen Z feel that high levels of immigration is driving up competition for the limited housing stock and this viewpoint is also common among Millennials (13%).
For many (27%), the housing crunch is delaying major life decisions like starting a family.
In Ontario and B.C., fewer than 15% of non-homeowners aged 18–44 believe they’ll ever own a home.
However, certain parts of the country are more hopeful.
Quebec (39%), as well as Newfoundland and Labrador (37%), show higher optimism rates, hinting that some regions may still offer pockets of affordability.
While 63% of Millennials “strongly agree” that owning a home is a primary life goal, only 52% of Gen Z feel the same way.
In Ontario, there is only 12% optimism, about home ownership while British Columbia has 14% optimism and only 6% of non-homeowners in Vancouver believing they can eventually buy.
The least optimistic cities are Vancouver (6%), Toronto (8%), Victoria (10%), Hamilton (13%). and Ottawa (14%).
Both Vancouver and Toronto specifically have been in the spotlight with skyrocketing prices and limited inventory for years.
In January 2025, renovation.ca surveyed 1,000 Canadian residents between the ages of 18 and 28 representing Generation Z, along with 1,000 Canadian residents between the ages of 29 and 44 representing the Millennial generation.
Respondents were 47% male, 49% female, and 4% reported other gender identities.
All respondents were residents of one of Canada’s provinces but there was an insufficient number of respondents from the territories to produce reliable data.