Article

Down payments getting further out of reach for first-time homebuyers in Calgary: report

“Home ownership has shifted from an aspiration for most to a privilege for the few,” says VCC's Meaghon Reid

22 June 2023

A new report by Royal LePage says almost 70% of first-time homebuyers are worried their down payment may not be enough to get the house they want. But for more and more people homeownership isn't even an option says VCC's Meaghon Reid.
“Home ownership has shifted from an aspiration for most to a privilege for the few," she explained also noting that salaries haven't kept pace with the rising cost of housing. She said we're in a housing crisis and policymakers need to address the situation now.

Affordable Housing Advocacy

VCC, along with 17 community organizations, shared three policy recommendations in a public awareness campaign. This engagement on affordable housing shaped several government funding announcements in 2022 and early 2023.

Tags

Related Articles

Newsletter

Get updates directly in your inbox on how poverty is changing in Calgary.