Real estate: a generation condemned to be a tenant?

Despite a record number of constructions across Quebec last year, young buyers are struggling to find homes they can afford. Many of them therefore resign themselves to remaining tenants.

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According to the APCHQ, there is currently a shortfall of nearly 60,000 constructions to meet demand in Quebec. The lack of manpower is one of the causes of this problem.

Yet in 2021, 67,962 homes were erected, 26% more than the previous year.

This is the first time that a generation has more misery to find accommodation than the one before, estimates the APCHQ.

“It’s very difficult for first-time buyers. This generation, which wants to access the property now, they will perhaps be forced to stay on the sidelines. They will, to a large extent, remain tenants, unless they have exceptional income, ”explains the director of the economic service of the APCHQ, Paul Cardinal.

Faced with this situation, the APCHQ is asking Quebec and Ottawa to act, in particular by increasing the provincial and federal tax credits from $750 to $1,500.

The Association also proposes that the government reimburse transfer duties (welcome tax) and facilitate the transfer of property between generations.

To see the full explanation, watch the video above.


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