62% of Canadians open to alternative housing, but builders struggle to bring options to market

EmitenTrust.com New Meridian report highlights the growing gap between Canadians' housing aspirations and the conditions needed to deliver attainable homes.

TORONTO, Sept. 22, 2026 /CNW/ -- Meridian Credit Union is working with homebuyers, builders and community partners to help bring more attainable housing to market and create more pathways to homeownership.

New national research commissioned by Meridian shows why this work is needed. Nearly eight in 10 Canadians consider housing attainability* critical to the country's future, and many are open to alternatives such as modular and prefabricated homes, co-ownership and rent-to-own programs. At the same time, builders face significant barriers, including limited access to financing, skilled-trades shortages and rising construction costs.

The new Meridian Housing Attainability Report examines the gap between the homes Canadians need and the industry's ability to deliver them. It also identifies practical opportunities for lenders, builders, governments and community partners to work together to increase supply and help more Canadians achieve home ownership.

Key findings include:

• 77 per cent of Canadians view housing attainability as a critical issue for Canada's future.
• 62 per cent would consider non-traditional housing options such as modular, prefabricated or tiny homes.
• 79 per cent of builders say there is a mismatch between what the industry is building and what Canadians need.
• 63 per cent of builders report difficulty securing project financing.
• 78 per cent of builders are affected by skilled-trades shortages.

"Canadians are showing us that homeownership is no longer one-size-fits-all," said Jay-Ann Gilfoy, President and CEO of Meridian Credit Union. "From co-ownership arrangements to modular housing and rent-to-own models, people are adapting to today's realities and looking for new ways to achieve their housing goals. The challenge is ensuring those options are supported by the financing, supply and partnerships needed to make them viable," she adds.

That willingness to adapt is reaching the construction sector. Nearly half of builders surveyed report growing interest in alternative housing options, yet 79 per cent say there is a mismatch between what the industry is building and what Canadians need.

"Builders are seeing demand for alternative housing options and new forms of homeownership, but bringing those projects to market isn't always straightforward," said Jason Teal, Vice President, Business Banking, Meridian Credit Union. "Many construction businesses continue to face financing pressures, labour shortages and rising costs that make it harder to deliver the attainable housing Canadians are looking for," he added.  

Meridian believes Canada's housing challenge is both a supply challenge and a delivery challenge, requiring financing, skilled labour, infrastructure, approvals and collaboration across the housing ecosystem.

Builders also face significant barriers to increasing supply. Nearly two-thirds report difficulty securing project financing, while 78 per cent are affected by skilled-trades shortages. Six in 10 say rising construction costs have made affordable starter homes financially unviable. Among larger construction firms, skilled labour shortages rise to 94 per cent.

"Canada's housing challenge isn't a lack of demand. Canadians are looking for homes and builders want to build them. The challenge is creating the financing, labour and delivery conditions needed to bring more attainable housing to market," added Kevin VanKampen, Head of Business Banking, Meridian Credit Union

The report identifies several priorities:

• Expanding access to project financing.
• Addressing skilled-trades shortages.
• Supporting alternative housing models.
• Improving collaboration between governments, builders and lenders.
• Increasing housing supply across ownership and rental categories.

Improving housing attainability requires collaboration across the housing sector. Meridian is working with homebuyers, builders and community partners to help increase housing supply and create more pathways to homeownership through financing solutions and targeted programs. This includes the Reframe Program, Meridian's social impact initiative that supports Ontario's skilled trades workforce through training, paid work experience, financial confidence coaching and pathways to employment.

About Meridian Credit Union
Meridian is Ontario's largest credit union, and one of the largest in Canada. Guided by our purpose, "helping you achieve your best life," Meridian delivers personal, and wealth financial business solutions to over 390,000 Members. Our Meridian for Good strategy is aimed at helping people get access to the money and advice they need; plan for a better future that is clean, resilient, and diverse; and be financially confident. Meridian has one operating subsidiary: Meridian OneCap Credit Corp ("MOCC"). For more information, please visit: meridiancu.ca.

We acknowledge that our operations are located on Treaty 13 lands, the territory of the Mississaugas of the Credit First Nation, and the traditional territories of the Haudenosaunee and Huron-Wendat Peoples. We also recognize the ancestral and unceded territories of all First Nations, Inuit, and Métis Peoples across Turtle Island. With gratitude for their enduring care for the lands and waters, we remain committed to learning, listening, and building meaningful partnerships with Indigenous communities as we work toward a better future together.

SOURCE Meridian Credit Union