By Harpreet Puri
In 2025, more Canadians, especially younger buyers, are relying on family support like inheritances, gifts, or loans to achieve homeownership, as housing affordability declines. A Statistics Canada report shows 40% of homeowners received family help, revealing rising inequality and dependence on intergenerational wealth. The trend raises concerns over limited access to housing for those without family support and calls for policy reforms to address the growing divide.
A growing number of Canadians are relying on family support, by way of inheritances, financial gifts, or loans, to buy a home, Statistics Canada said in a recent article based on the 2023 Survey of Financial Security data. With housing affordability declining, in particular, for younger generations, support from family members has emerged as an essential springboard into the real estate market.
The study, called Familial Support in Entering the Canadian Housing Market, highlights the importance of homeownership for long-term financial stability. Real estate equity accounted for 42 per cent of total household wealth across Canada in 2023, reflecting how intertwined homeownership is with the creation and retention of wealth.
The positive effects of homeownership extend far beyond individual wealth. Those born in the 1990s were more than twice as likely to own a home if their parents were homeowners, the report said. Even more striking was the fact that children whose parents own multiple properties were close to three times as likely to become a homeowner themselves. This pattern points to how intergenerational wealth and asset transfer increasingly shape access to homeownership.
The researchers also found that homeowners tended to have higher financial resiliency scores, which means that they are more prepared to absorb economic shocks — another benefit of inherited wealth.
As affordability crumbles, inheritances are increasingly filling the financial gap for homebuyers. In 2019, roughly 30% of homeowners said they received an inheritance, with a median value of $67,000. In 2023, that number jumped to $85,100 — a staggering increase that speaks to not just the rising cost of housing but also the increasing reliance on inherited wealth to own a home.
Across all age groups:
When factoring in all types of family support—including borrowing from family and friends rather than traditional lenders—the total number of homeowners who received family assistance was 40% or 4 in 10 homeowners.
That reliance is even more salient among those under the age of 35. These younger buyers were more than twice as likely to report using gifted money to fund their home downpayment as older age groups were. This stat illustrates quite vividly: for many young Canadians, breaking into the housing market without assistance from family is becoming an increasingly daunting task.
The report cautioned against the social and economic implications this change could bring. “Delayed or inaccessible entry into the housing market for those lacking familial support may increase inequality,” it says. And as intergenerational transfers are a key determinant of homeownership, the potential for upward socioeconomic mobility could atrophy for those with less money.
The report suggests worry over the possible long-term implications of increasing reliance on inherited wealth. As owning property becomes ever more dependent on inheritance or support from parents, those without either path may find themselves on a permanent back foot as they seek to make their way through life.
This might further compound economic inequity, particularly for marginalized and lower-income communities without access to intergenerational wealth. The trend of real estate remaining inaccessible for Canadians without family support will continue without meaningful affordability solutions or intervention.
The data will further fuel the ongoing debates around Canada’s housing policies. While some are calling for an increase in supply and broader mortgage programs, others emphasize the need for tax adjustments or rules that will address the inequities linked to generational wealth.
What housing experts and policymakers might have to think about:
The Canadian housing market remains one of the biggest wealth generators in the country, for those who can get their foot in the door. But with home prices climbing and wages lagging, the possibility of home ownership is becoming less a personal achievement and more of a family-enabling milestone. In this changing landscape, policymakers should respond thoughtfully to ensure access to housing — and the financial security that comes with it — is not reserved for people with inherited advantages.
And as the Statistics Canada report makes clear, offers of family help are no longer merely helpful — but rather essential. For many Canadians — especially younger generations — owning a home may increasingly not depend only on what they earn, but on what their families can give.
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