According to Wahi’s Angus Reid forum, most millennials (54%) and a large number of Gen Z respondents (41%) (41%) feel stressed about buying a home at some point.
This is well above the national average of 34%, especially when they have the highest home ownership rate compared to Gen X (30%) and Baby Boomers (13%). (For reference, these generations are widely defined as Z Gen 18-27 years old, Millennials 28-43, Gen X 44-59 and Baby Boomers 60-78.)
The findings reflect what she saw on the ground, said Tracy Valko, founder of Valko Financial Brokerage and CVO Tracy Valko. “It’s very stressful for Canadians to buy a home,” Valco told Canadian Mortgage Trends. “This pressure is often exaggerated by social expectations and the perception that home ownership is a measure of personal and financial success.”
Social pressure reaches widening the ownership gap
For Gen Z and millennials, social norms are the most common sources of purchasing pressure, at 59% and 55%, respectively. By contrast, Gen X (33%) and baby boomers (27%) are less affected by social expectations, and instead point out that individual goals are their primary motivation.
According to WAHI, older respondents are also more likely to say there is no pressure to own property at all—by comparison, 27% of baby boomers and 21% of Generation X, 13% of Z Gen and 11% of millennials, according to Wahi’s survey.
“Many first-time buyers expressed anxiety about ‘lagging’ and felt urgent to enter the market even if it might not match their financial preparations,” Valko noted. “The emotional hurt is real.”
The survey also highlights the growing gap in property ownership for generations. Young Canadians are much less likely to own property, and many believe that the goal is becoming increasingly out of reach. According to Wahi’s survey, 81% of baby boomers and 74% of Xers own a home in Canada, compared to 61% for millennials, accounting for only 21% of Gen Z.
There is also a clear gap in how Canadians view home ownership rates. According to the 2021 National Census, about two-thirds of Canadians are homeowners. However, 62% of respondents underestimated the rate of home ownership in Canada, believing that it is 50% or less.
This perception may be related to a broader attitude toward housing, with half saying renting has negative stigma and 51% of non-owners, dissatisfied with their current situation.
Purchase pressure varies by region
In terms of regional trends, respondents in affordable markets reported less buying pressure. In Quebec, only 26% of respondents reported feeling stressed about buying a home themselves, compared with 29% in the Atlantic Ocean in Canada.
Alberta (41%) reportedly reported that the highest pressure on purchases was to attract cross-layer migration from precious provinces and British Columbia (39%), home to some of Canada’s most expensive and competitive housing markets in some of Canada’s most expensive and competitive housing markets.
Brokers recommend focusing on urgency preparation
But regardless of the stress level, especially among the younger generation in Canada’s most competitive markets, some brokers recommend keeping the noise out.
“For first-time buying pressure, my advice is to pause and evaluate your unique situation,” Valko said.
“Focus on what is financially and personally suitable for you and develop a plan that includes understanding your true affordability, exploring alternative avenues such as co-ownership, and prioritizing financial stability over rushing to buy,” she added.
Christian Lane, a mortgage broker at Pinto Mortgage Group, agreed that buyers should practise caution.
“Unless you decide that is, it’s not true,” he said. “If you stretch yourself financially and scramble to buy a house because you’re going to see other people do that, that’s the wrong reason to sink money into anything.”
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Last modified: August 13, 2025
