Statistics Canada says survey results over the last few years show renters are more prone to reporting a lower quality of life than homeowners, especially in Vancouver and Toronto.Posted: Feb 20, 2024 9:35 AM EST | Last Updated: February 20
In 2021 and 2022, renters were over 15 percentage points more likely to report difficulty meeting financial needs and over 11 percentage points less likely to report high overall life satisfaction compared to homeowners, noted Statistics Canada inThose who rent were also more likely to report feelings of loneliness, and less likely to report a strong sense of belonging to their community.
"Younger Canadians tend to face greater challenges than older age groups when it comes to shelter costs," Statistics Canada said.DurationThe federal government released yearly rental figures on Wednesday. And as Justin McElroy explains, that data paints an even grimmer picture about affordability and availability than before.
About 45 per cent of Vancouverites and 46 per cent of Torontonians reported "high life satisfaction," with housing in the two cities "significantly less affordable than the national average."Statistics Canada says those living in Toronto and Vancouver in 2021 through 2023 reported lower life satisfaction than others in B.C. and Ontario, and also had a lower sense of "belonging to their community.
Source: Law Daily Report (lawdailyreport.net)