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Monday, July 22, 2024

Mortgages, Inflation, and Immigration Top Concerns for Canadians in 2024

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As the new year begins, Canadians are expressing their concerns for 2024. According to recent polling by Nanos Research, the key worries revolve around the cost of living and immigration.

Nanos surveyed over 1,000 Canadians aged 18 or older from December 27 to 29, 2023. The findings indicate that half of Canadians with a mortgage are either “concerned” or “somewhat concerned” about making payments. Notably, 35% of respondents want the House of Commons to prioritize addressing the cost of living, with up to 61% expressing a desire for Canada to accept fewer immigrants.

Mortgage Payments Worries

The survey reveals that one in two Canadians with a mortgage is uneasy about their ability to make payments when their mortgage renews. Younger Canadians, particularly those between 18 and 35, expressed higher concern levels (29%), while those aged 55 and older demonstrated notably less worry, with only 16% concerned.

House of Commons Priority: Cost of Living

When asked about the top priorities for the House of Commons in 2024, 35.4% of respondents pointed to the rising cost of living. The younger demographic, aged 18 to 34, emphasized this priority more strongly, with 44.5% expressing concern.

Changing Views on Immigration

Nanos found that an increasing number of Canadians wish to see fewer immigrants accepted in 2024, marking a significant shift from 2023. Sixty-one percent of respondents held this view, an eight percent increase from September 2023. The data also shows a declining trend in the proportion of Canadians wanting to accept more immigrants, dropping from 17% in 2020 to five percent in the recent polling.

Housing Crisis Driving Immigration Concerns

The survey suggests that the housing crisis is a significant factor influencing opinions on immigration, with 31% attributing their desire for fewer immigrants to the lack of available housing. Additionally, 24% feel that Canada lacks the necessary infrastructure, social services, and resources to support an increased immigrant population.

These findings from Nanos Research provide a snapshot of the concerns shaping the Canadian landscape in 2024, ranging from mortgage worries to broader economic and societal issues.

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