Canada’s housing ladder isn’t just hard to get on—nearly half of owners can’t afford to get off the first rung. RBC’s 2026 Home Ownership Poll looked at home buying expectations and financial constraints. The poll shows first-time buyers are getting older, and fewer owners can afford to upgrade. Meanwhile, the Bank of Mom and Dad is expanding its territory—literally, as multi-generational living returns. 

Canada’s First-Time Buyers Expect To Buy Their First Home At 41 

Canada’s first-time buyers will be on the back half of life’s golf course before they get into the market. Aspiring first-time owners plan to buy at 41 years old on average, 12 years later than current owners. That may be an optimistic number, as nearly half of them were unsure when they would be able to buy a home. 

Becoming a homeowner is much harder than it was for past generations, said most (74%) of non-owners. Over 3 in 4 (77%) believe buying is harder than it was in the past, and 60% say traditional buyer advice is no longer true. Existing homeowners are likely to agree with that last point. 

Canadian Homeowners Can’t Afford To Upgrade Their Starter Home

High home prices don’t just impact first-time buyers, it causes buyer gridlock. Modern housing markets are built around the concept of a property ladder. Homebuyers progressively move up the ladder, upgrading as they build equity. That process has been breaking down, as fewer people can afford to upgrade. 

Nearly half (46%) of current owners want a larger or different home, but say it’s not financially realistic. Most (52%) say moving up from their first home is harder than expected, a problem the whole industry is about to feel. If existing starter home owners can’t buy the next rung, those sellers face reduced liquidity. At the same time, there are fewer starter homes for buyers to get onto the property ladder in the first place. 

Aspiring first-time homebuyers are taking note and skipping the ladder. The survey found 74% are looking for a long-term home instead of a starter. Starting ownership 12 years later than average means very different property needs. Delaying their buy until the age of their peak earnings growth can help them afford to skip the starter. It also means starter homeowners will see their liquidity turn into their competition. 

RBC senior mortgage specialist Brad Evjen suggests this may not always be the best strategy. “Buying a home you can stay in longer usually means stretching your budget further, so the math has to work in both directions,” he notes. He prefers to walk clients through monthly payments against what moving up in five years would cost.

Usually, the down payment problem is a bigger hurdle than the monthly payment. First-time buyers are increasingly tapping the Bank of Mom and Dad. However, not everyone’s parents are rich—some are actually looking for help with their own cost of living. 

Multi-Generational Households Return With High Home Prices

Canada’s lack of affordability may soon reverse nuclear households to their pre-war roots. The survey found that 57% of prospective first-time buyers would consider multi-generational living—parents living with their adult children. However, it’s not just a first-time buyer thing—most buyers (53%), including those who currently own, would consider multi-generational living. Nearly half (44%) of all respondents, including those not in the housing market at all, would also consider the option. 

Only a few years ago, it became normal for parents to help with a down payment. Now 29% of prospective first-time buyers say multi-generational buying is more a necessity than a choice. A problem that parents are receptive to—35% of homeowners say they’re prepared to sell and jointly buy with their kids to help them enter the market.

Canada’s housing ladder is difficult to enter—and getting onto it doesn’t guarantee you can climb it. Those looking to enter the market can’t do so until much later in life. At the same time, those who own are increasingly struggling to upgrade from their starter. Helping to bridge the gap are families pooling resources to buy what was considered normal for the last three generations.