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Cost of Living Is One of The Biggest Concerns for Canadians These Days

The cost of living is the number one issue for many Canadians around the country today and that is what they want politicians to address in the upcoming election, what are they going to do about it? How are things going to get better as far as education, healthcare, housing, and overall affordability for everyday Canadians? This will be a chance for Canadians to hear from those who want to lead the country forward.

Trudeau just recently called the snap election and now Canadians are going to head to the polls in Sept 2021 for the federal election to choose what party might be the voice on the path forward for them. This comes despite pandemic concerns still lingering around the country, provinces are moving forward with their own reopening plans this year and still navigating through the threat posed by COVID-19.

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High Cost of Living for Canadians

It isn’t only Vancouver and Toronto where Canadians are voicing their concern for the rising cost of living and their worry about the future and what the economy might look like for the people living across the country. Is the housing crisis going to continue? Are things going to continue getting worse as far as affordability goes? Vancouver is one of the most expensive places to live in the world today, not just in Canada.

But you will find Canadians outside of Vancouver and Toronto who also spend more than 30% of their income on rent alone, many spending more than 50% and that leaves them struggling to meet their other needs. The majority of incomes cannot afford the housing prices that we are seeing and so eventually things are going to get worse and that will lead to more pressure for something to be done.

Canadians are already calling for action, housing affordability is one of the most important issues for many Canadians today and the cost of living. This will be what many want to hear about this coming Canadian election and answers they get might highly influence who they go out and vote for this federal election coming up.

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Canada Election on Sept 20 2021

The Canadian election for 2021 is already underway and it isn’t clear what Canadians might go out and vote this time around, will they be unsatisfied with how the government navigated us through the pandemic? They can make their voices known at the polls in a few weeks.

For the election this year it is expected that many will register to vote through mail in voting and that could delay the voting results overall. People who want to vote early in Canada are already being encouraged to look into that and register so that they can get the voting kit in the mail before it is too late.

While political opponents of Trudeau have said the snap election call for Canada is selfish and opportunistic, Trudeau has suggested that it is a chance for Canadians to have their voice heard at this difficult time; looking for someone to lead them on a path forward.

Are Canadians house poor?

Previous investigation into this issue shows that millions of homeowners around Canada are susceptible to financial disruptions, with roughly a third of Canadians feeling house poor but still open to take on more debt. Last year, according to Stats Canada, Canadians owed roughly $1.71 for each dollar of disposable income in just the 3rd quarter. This year a number of Canadians have added record mortgage debt and for those who don’t have the means or the help to assist with a down payment or co-signing they might never own their own home.

Due to the worsening affordability issue with housing around Canada there are a great deal of Canadians have already given up on the dream of homeownership because of the out of control prices.

It Isn’t Just Vancouver

Multiple reports show that British Columbians and Canadians around the country are financially struggling.

Now, politicians at voting time are going to act like this is a priority for them, but where have they been all along on the issue? There arguably isn’t much transparency to the solutions they propose as far as exactly how they are going to get the affordable units into end users’ hands. Answers with blanket statements of “we’re going to build X amount of affordable housing units” doesn’t answer the question of how we know they will go to who really needs them. How will we know there is fairness in the selection process for those units?

There are many ideas being floated to address housing affordability in Canada. These ideas from politicians so far include building more homes or “affordable housing units”, trying some new taxes, shorter mortgage opportunities, and more.

Canadians will have to wait and hear more along the election road to see just exactly what Canadian politicians are going to supposedly do about it. One thing is certain and that is that too many Canadians are struggling with affordable housing today and they need a solution now and not just more empty talk on the matter.

Categories: bc, canada, opinion

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5 replies »

  1. The problems of the ever increasing real estate prices as well as the rents for a house are indeed skyrocketing. A problem that also arises here in Europe.
    It becomes almost impossible for many people to afford basic accommodation. The project developers, sellers and landlords only aim at the wealthy part of the population. The problem also extends to elder care. Luxurious rest and care homes are being built that only a few elders can afford.
    Succes with the election and let’s hope light shines on the horizon.

    Like

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