Two-thirds of Metro Vancouver renters want to see housing prices fall in the region by more 30 per cent, a new poll released Monday by the Angus Reid Institute found.
Although most people felt that houses were expensive, renters felt like they were much worse off than homeowners.
The survey found that 82 per cent of renters felt that housing prices, affordability and real estate were the top issues facing Metro Vancouver, compared to just 56 per cent of owners.
|(Angus Reid Institute)|
By and large, the survey found that renters felt like the high house prices were hurting them. More than half of millennial felt the same way, as did those making under $50,000 a year.
Pollsters found a cognitive dissonance in how Vancouver homeowners felt about the prices of homes in the area.
When asked to describe the price of their own home, just 35 per cent found it “unreasonably high,” while 74 per cent thought that house prices in Metro Vancouver were “unreasonably high.”
The price of a home in their own city hit the middle with 51 per cent finding it unreasonable.
The disconnect was felt by renters too, with 81 per cent saying the typical cost of rent in Metro Vancouver was “unreasonably high,” but only 24 per cent found the price of their own rent unreasonable.
Just over 40 per cent of those surveyed say they’re “feeling the pain personally” as housing prices continue to stay high and 83 per cent say they feel the region as a whole is suffering.