Household Debt Is Delaying Canadians' Life Milestones, Including Homebuying: Angus Reid Poll

Dated: February 1 2019

Views: 82

Household Debt Is Delaying Canadians' Life Milestones, Including Homebuying: Angus Reid Poll

Saving for retirement, getting married, having kids ... all delayed.

A survey from Angus Reid shows Canadians are delaying major life milestones, like buying a home, due to debt.
TIJANA87 VIA GETTY IMAGES
A survey from Angus Reid shows Canadians are delaying major life milestones, like buying a home, due to debt.

Canadians are putting off major personal milestones — including purchasing a home — because of their debt, a new survey suggests.

Debt has caused 18 percent of Canadians to put off buying a home, according to an Angus Reid Institute survey undertaken in partnership with The Globe and Mail newspaper.

Angus Reid Institute, a not-for-profit pollster, conducted the survey of 1,500 Canadian adults online from September 27th–30th.

Also on HuffPost: Chinese app names and shames debtors near your location. Story continues below.

Homebuying was not the only activity Canadian debt curtailed. In fact, 32 percent of respondents say they aren't saving for retirement because of what they owe, while 8 percent haven't tied the knot and 7 percent are delaying having children.

The number of Millennials living at home has received media attention in recent years as more than a third of Canadians aged 20–34 reside with at least one parent, according to the most recent census data available from 2016. The share of Canadians in this age group who live at home has been on the rise since 2001.

Check out these stories on Livabl:


The Angus Reid survey suggests some Canadians have yet to leave the nest as a result of debt. Five percent of respondents cites debt as a reason they have not moved out of their parents' home. Of course, the high cost of housing has also been reported as keeping Millennials from striking out on their own.

While some are clearly struggling with debt levels, only 16 percent of indebted Canadians say debt is "difficult to manage," and 24 percent of respondents report not owing a cent to creditors.

Earlier on HuffPost Canada:


The survey results come at a time when some experts are flagging high household debt as a risk to the Canadian economy.

However, in a report published last week National Bank pointed out that Canadian bankruptcies are still around record lows, despite rising interest rates that may strain some households' ability to manage debt.

Blog author image

Steven Axford

Steve is a award winning Realtor in Victoria BC, with his listings selling faster and for top dollar! Growing up in Victoria, BC and has always been active in his community. Steve is a Victoria Cougar....

Latest Blog Posts

BC Home Sales Continue to Slow in July

The British Columbia Real Estate Association (BCREA) reports that a total of 5,572 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in July 2022, a decrease

Read More

Asking price matters

There’s no doubt about the fact that the housing market is slowing from the frenzy we saw over the past two years. But what does that mean for you if you’re thinking of selling

Read More

Adapting Your Finances

The latest news has been focused on rising interest rates, surging inflation, and economic uncertainty with suggestions that the Canadian economy could be tripped into recession.With all this

Read More

New Home Warranties in Strata Corporations

The BC Home Owner Protection Act requires that all newly built homes (including strata properties) or buildings that have been substantially reconstructed be covered by third-party

Read More