We independently select everything we recommend.
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we → select → everything
Buying through us may earn us a commission, which supports our work.
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which → buy → work
Two-thirds of Canadians view owning a home as a cornerstone of their long-term financial plans, but younger buyers are looking at different ways to get there, a new report finds.
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report → view → ways
According to the Meridian Housing Attainability Report 2026, 78 per cent of Gen Z believe buying a home on their own is out of reach for people their age.
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buying → accord → people
As a result, 26 per cent are exploring co-ownership with friends or family, 29 per cent are looking at rent-to-own arrangements and 30 per cent are relying on family support for a down payment.
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cent → explore → payment
“Our Housing Attainability Report shows that Canadians aren’t necessarily giving up on homeownership, but many are rethinking what the path to getting there looks like,” says Shan Gibson, vice president, Retail Growth & Advice, Meridian Credit Union.
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Gibson → show → what
“Shared ownership, rent-to-own and family support can create new possibilities, but it’s important to understand the full financial commitment and make sure the approach is sustainable over the long term.
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approach → share → term
FINANCIAL ANXIETY
Forty per cent of Canadians identify housing as their single largest source of financial anxiety, the report reveals.
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report → identify → anxiety
That anxiety is concentrated heavily among younger demographics: 87 per cent of millennials and 81 per cent of Gen Z report ongoing stress related to housing costs.
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cent → concentrate → costs
Regionally, the strain is especially acute in Ontario, where 80 per cent of residents report housing-related stress and 66 per cent worry they may never be able to afford a home.
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they → report → home
Also, according to the report, everyday budgets are being squeezed: 40 per cent of Canadians have reduced spending on essentials, 31 per cent have scaled back savings contributions and 23 per cent have postponed major purchases or life milestones.
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cent → accord → purchases
“One of the most important things prospective buyers can do is start the conversation early,” Gibson says.
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Gibson → do → conversation
“Understanding what you can realistically afford and exploring the different options available before you start house hunting can put you in a much stronger position to make the right decision for your circumstances.
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you → understand → circumstances
“Buying a home is an important financial milestone, but it shouldn’t come at the expense of your overall financial well-being.
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it → buy → being
Before choosing any path to ownership, it’s important to understand how it will affect your savings, day-to-day finances and longer-term goals.”
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it → choose → day
The national research commissioned by Meridian also found that 62 per cent of Canadians are actively willing to consider alternative housing options, such as modular, prefabricated or tiny homes.
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cent → commission → homes
That willingness to adapt is reaching the construction sector, the report finds.
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report → adapt → sector
Though nearly half of builders surveyed report growing interest in alternative housing options, 79 per cent say there’s a mismatch between what the industry is building and what Canadians need.
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Canadians → survey → what
“Builders are seeing demand for alternative housing options and new forms of homeownership, but bringing those projects to market isn’t always straightforward,” says Jason Teal, vice president of Business Banking, Meridian Credit Union.
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Teal → see → Banking
“Many construction businesses continue to face financing pressures, labour shortages and rising costs that make it harder to deliver the attainable housing Canadians are looking for.
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Canadians → continue → housing
”
Sixty per cent of builders say high construction costs have made affordable starter homes financially unviable and 63 per cent report challenges securing project financing, the report notes.
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report → say → financing
Seventy-eight per cent are affected by skilled-trades shortages – a number that rises to 94 per cent among larger construction firms.
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that → affect → firms
Meridian believes Canada’s housing challenge is both a supply challenge and a delivery challenge that demands financing, skilled labour, infrastructure, approvals and collaboration across the housing ecosystem.
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that → believe → ecosystem
‘Homeownership Readiness’ checklist
The Meridian Housing Attainability Report 2026 offers five steps to navigate today’s housing market:
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Report → offer → market
- If you’re cutting back on retirement savings to buy a home, calculate the long-term compound interest cost.
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you → cut → cost
Ensure your home equity gains will realistically offset this gap.
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gains → ensure → gap
- Use tax-free savings vehicles like the First Home Savings Account to their absolute limit to shield your down-payment savings from taxation.
- 52 per cent of Gen Z want financial guidance before they start house hunting.
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they → use → hunting
Don’t wait until you have a purchase agreement; speak to an advisor to map out a multi-year savings pathway.
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you → wait → pathway
The Aporia
