Report Concludes Most Canadians Can Only Dream to be Homeowners

This article was last updated on April 16, 2022

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According to a report published by the Employment and Social Development Canada this past October, the dream of owning of home in Canada and economic prosperity has no contact with reality anymore and is actually no more than a dream now.

The agency tasked to manage employment insurance and other income-support (welfare) benefits, Employment and Social Development Canada, evaluated that despite Canadians’ practice of adopting good financial habits and a steady source of income, financial stability is just a short-lived state that dusts off once an unexpected illness or loss of employment strikes. Even though the report was not intended for public consumption, “The Canadian Press” made use of the Freedom of Information Act to obtain it. According to the report, more and more Canadians are risking their financial livelihoods on a heavy debt load which exposes them to financial harm in case they experience an economic shock.

The study concluded the most prominent and distinguishable cause of the issue to be nothing but stagnant wages. According to the results of the study, the income of Canadian workers increased by only 1.7% during the period of 1993 to 2007. Whereas, figures were a lot more different when it came to the value of property or basic living expenses. Media outlets are referring to the report as a “Conservative Report” since it was commissioned by the ruling Conservative Party and evaluates data over the period when liberals ruled Canada.

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1 Comment

  1. Canada doesn’t exist anymore ! harper ransacked the country and now it doesn’t exist anymore ! This is a 100 % FACT !!!! And harper should be in jail for fraud, election-rigging, lying, treason, theft, tax evasion, money laundering, corruption, etc. And why ISN’T this P O S in jail ? You tell me because I have no comment_content_IDea !

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