New poll shows that more than half of Canadians are unhappy with high housing prices.
Home prices are no longer just about Toronto and Vancouver, but are sweeping across Canada. The latest poll shows that the proletariat and the proletariat are deeply divided over the future outlook for housing prices. 40% of those polled want prices to continue to rise; 39% want them to fall; 22% want the housing market to collapse, and they want prices to plummet by more than 30% at best, not caring whether a plunge in prices will destroy the economy.
At the beginning of the outbreak of the CCP virus pneumonia, some thought home prices would fall by 18%, but the fact is that over the past year, Canadian home prices have risen by nearly 25% to a record high of $ 678,091 in February this year. Experts expect home prices across the country to rise another 16 percent or more this year.
In the wake of the outbreak, home offices are becoming more common, and people are no longer buying homes based on location, as in the past, but rather on spaciousness, elegance and the availability of front and back yards, leading to rapid price increases in suburbs, small towns and resort towns.
Older people with homes and higher incomes are the happiest
A new Angus Reid poll shows that people on both the east and west coasts of Canada are suffering from high home prices. The survey divided the nation’s residents into four categories: happy, comfortable, unhappy and miserable, according to the Home Price Misery Index.
The first category of happy people accounted for only 13%, the smallest proportion, mostly older, high-income people with homes, and most of the homeowners in more than 15 years, of which 73% of mortgage payments are debt-free.
The second category of comfortable people accounted for nearly 26%, also mostly older high-income groups, of which 70% have a home, 62% finished paying off the mortgage debt-free, of which the renters said that the rent is reasonable, within a reasonable range of affordability.
Interestingly, the third category of unhappy people, all provinces, income and age groups, accounting for nearly 35%, the highest percentage of people in the four categories, of which 60% have a home, 82% are still making mortgage payments, only half said the monthly payment easy.
The 4th painful group, 24%, are mostly young low-income renters, 42% still renting. 8 out of 10 people are homeless and say they want to buy a house but can’t afford it. Among this group, 97% of those who have a home still have a monthly payment, of which only 10% say the monthly payment is easy.
The sooner you buy a house, the happier you will be
The survey data shows that the timing of buying a home is key to happiness: 90% of those who are happy and comfortable bought a home as early as 15 years ago; half of those who are unhappy and miserable bought a home between two and five years ago, and this percentage is as high as 72% of those who bought a home within the past 12 months.
Disturbingly, up to 55% of residents in each province are classified as unhappy or miserable. On average, half of Canadians (regardless of where they live) think their area is too expensive.
While income largely determines whether people are happy or unhappy, category 4 of the miserable group includes people from all income brackets. For example, nearly 14% of the happy group earn less than $25,000 per year, while 19% of the miserable group earn more than $100,000 per year and 9% earn more than $150,000 per year.
The survey also shows that Canadians are generally dissatisfied with the government’s housing price control policies, and the vast majority of people in each province are dissatisfied with the provincial government’s housing price affordability policies.
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