Most millennials (54%) and a substantial share of Gen Z respondents (41%) have felt pressure to buy a home at some point, according to Wahi’s 2025 Homebuying Pressure Point Survey conducted with the Angus Reid Forum.
That’s far higher than the national average of 34%, particularly in comparison with Gen X (30%) and baby boomers (13%), who hold the highest homeownership rates. (For reference, the generations are widely defined as Gen Z ages 18–27, millennials 28–43, Gen X 44–59, and baby boomers 60–78.)
Tracy Valko, founder and CVO of Valko Financial brokerage, says the findings reflect what she’s seeing on the ground. “There’s significant pressure on younger Canadians to buy a home,” Valko tells Canadian Mortgage Trends. “This pressure is often amplified by social expectations and the perception that home ownership is a measure of personal and financial success.”
Societal pressure meets widening ownership gap
For Gen Z and millennials, societal norms were the most common source of pressure to buy, cited by 59% and 55% respectively. In contrast, Gen X (33%) and baby boomers (27%) were less influenced by societal expectations, pointing instead to personal goals as their main motivator.
Older respondents were also more likely to say there’s no pressure to own property at all — a view held by 27% of boomers and 21% of Gen X, compared with just 13% of Gen Z and 11% of millennials, according to Wahi’s survey.
“Many first-time buyers express anxiety about getting ‘left behind’ and feel urgency to enter the market, even when it may not align with their financial readiness,” notes Valko. “The emotional toll is real.”
The survey also highlights the growing divide in property ownership across generations. Younger Canadians are far less likely to own property, and many feel that goal is becoming increasingly out of reach. According to Wahi’s survey, 81% of boomers and 74% of Gen Xers own a home in Canada, compared with 61% of millennials and just 21% of Gen Z.
There’s also a clear gap in how Canadians perceive homeownership rates. Around two-thirds of Canadians were homeowners, according to the 2021 national census. However, 62% of respondents underestimated Canada’s homeownership rate, believing it to be at 50% or less.
That perception may be linked to broader attitudes toward housing, with half saying renting carries a negative stigma and 51% of non-owners reporting dissatisfaction with their current situation.
Pressure to buy varies widely by region
When it comes to regional trends, respondents in more affordable markets reported less pressure to buy. In Quebec, just 26% of respondents reported feeling pressure to buy a home, with Atlantic Canada at 29%.
The highest pressure to buy was reported in Alberta (41%), which has attracted interprovincial migration from pricier provinces, and in British Columbia (39%), home to some of Canada’s most expensive and competitive housing markets
Brokers recommend focusing on readiness over urgency
But no matter the levels of pressure felt, particularly among younger generations in Canada’s most competitive markets, some brokers advise shutting out the noise.
“For first-time buyers feeling this pressure, my advice is to pause and assess your unique situation,” said Valko.
“Focus on what’s right for you financially and personally, and build a plan that includes understanding your true affordability, exploring alternative paths like co-ownership, and prioritizing financial stability over rushing to buy,” she added.
Christian Lane, Mortgage Broker at Pinto Mortgage Group, agrees buyers should proceed with caution.
“The pressure (to buy) isn’t real unless you decide it is,” he said. “If you’re stretching yourself financially and scrambling to buy a home because you see other people doing it, that’s the wrong reason to sink money into anything.”
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Last modified: August 13, 2025
