Young Halifax couple looks to Ottawa to support their goal to buy a home

A young Halifax couple speaks about their difficulties in saving for a down payment on a mortgage despite earning a high combined income.

Lis and Myles Landry were married less than a year ago and together they have a shared dream of one day owning their own home.

For now, they are settling for living in a small Halifax-based apartment, until they can afford to buy their own property.

“I wouldn’t say that I am ever hopeless, but those things seem rather unattainable,” said Lis Landry, who added they make a good combined income, but their monthly expenses make it difficult to save enough for a down payment on a house.

“Between bills and rent and student debt, it’s not really realistic to put away more than a couple of hundred dollars a month.”

According to Statistics Canada, the home ownership rate for younger Canadians has declined in recent years.

Prime Minister Mark Carney will introduce his government’s new federal budget on Nov. 4 and the Landrys will be watching closely, hoping the budget unveils a realistic plan for affordable housing to help many Canadians take on a mortgage.

“I think we lack a consistent definition for what counts as affordable housing,” said Lis Landry. “A lot of the time they will call it affordable, if it’s below market rate. But if the market rate is extremely high, that stops being affordable for most people.”

They are also skeptical that their housing concerns are being felt and heard in Ottawa.

“It will get brought up, but in truth, unfortunately, I am a little bit pessimistic,” said Myles Landry.

Some homes in the Landry’s neighbourhood are selling for approximately $1 million dollars. Looking forward, they remain optimistic, but are admitting it feels like they are nowhere close to one day being homeowners.

“I would not be surprised if it takes until my 40s before it is a possibility,” said Myles.

“I think that the promise of this country is that we are a place of prosperity and diversity,” said Lis. “I think owning a home is part of the Canadian dream.”

Lis Landry also said she has concerns that there is a growing divide in our country based on a lack of access to housing. She hopes the prime minister addresses these concerns in the upcoming federal budget.