Housing stayed a top concern as progress continued to feel out of reach
Canadians keep housing and living costs at the top of their political agenda this fall, even as prime minister Mark Carney’s government rolled out its first budget and a slate of economic initiatives aimed at easing pressure on households and borrowers.
A new Abacus Data tracking study found 91% of Canadians said “lowering costs and helping Canadians get ahead” should be a government priority, while 89% said “making housing affordable” should be a priority.
An Ipsos survey found that even after a Bank of Canada rate cut, many prospective buyers remain discouraged by borrowing costs and overall housing affordability, with a significant share believing they would not be able to afford a home “regardless of how much interest rates drop.”
In Ontario alone, Canada Mortgage and Housing Corporation (CMHC) found development charges could represent 8 to 16% of a new condo price and up to 9% of the cost of a single-detached home in Toronto.
At the same time, belief that these efforts have translated into real-world gains remain subdued.
The research, based on an online survey of 2,421 Canadians conducted November 20–27, showed that while public support for the Carney government’s seven national priorities hold steady, “the overall story on progress is one of moderation rather than momentum.”
Respondents “aren’t punishing the government for failing to deliver, but they’re not rewarding it either.”
The Parliamentary Budget Officer (PBO) projects that Build Canada Homes will add only 26,000 units by 2030, covering just 3.7% of its affordability gap, while federal housing spending falls 56% over four years.https://t.co/FOVkOxsPsU
— Canadian Mortgage Professional Magazine (@CMPmagazine) December 4, 2025
Affordability pressures are most acute on day‑to‑day finances. Seventy‑three percent said that lowering costs would be good for them personally, down four points since summer.
When asked to choose their top three priorities, “lower costs is a clear front runner – 70% place it in the top three,” the report said.
A separate Abacus Data survey for the Canadian Real Estate Association found “nearly nine in ten respondents” were worried about housing, with just over half concerned about keeping up with mortgage or rent payments.
Meanwhile, 55% feared losing their home or rental if their finances changed suddenly.
Those pressures have increasingly pushed borrowers toward advice. According to the 2024 CMHC Mortgage Consumer Survey, nearly half of all borrowers (48%) chose to work with a mortgage broker, up from 43% the year before, as households navigated higher rates and stretched budgets.
For Carney’s government, Abacus concluded, the risk lies not in collapsing support but in a widening gap between ambition and lived experience.
“Stability isn’t failure – but it’s not success either. It’s a holding pattern, and holding patterns don’t last forever,” the firm said.
For lenders and brokers, that holding pattern means one clear reality: until Canadians felt meaningful progress on housing and costs, demand for expert guidance around borrowing, refinancing, and risk management would remain intense.
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