Purchasing power: 85% of Quebecers say they experience financial anxiety

Fruit counter in a Levis, Que., market, Wednesday, Feb. 5, 2025. (Jacques Boissinot/The Canadian Press)

Few Quebecers are free of financial worries.

Financial anxiety is a widespread ailment, and Centraide of Greater Montreal CEO Claude Pinard says one of the issues is difficulties finding affordable housing.

Financial anxiety is felt by 85 per cent of Quebecers to varying degrees, according to an online survey conducted from Feb. 20 to March 7 by Léger on behalf of Centraide of Greater Montreal.

Of those surveyed, 46 per cent said their stress was “moderate to extreme.”

“When you get to that point, it affects your physical and mental health,” said Pinard. “It can even create tensions in a couple or interfere with the educational success of children.”

• READ MORE: Canadians more anxious about food affordability and more likely to buy local: report

Amid soaring food inflation, the economic horizon is now clouded by threats from U.S. President Donald Trump’s administration.

The figures for financial anxiety have remained relatively stable compared to last year, but more Quebecers say they expect the economy to deteriorate over the next six months.

Fifty-five per cent say they expect this, compared with 41 per cent during the same period last year.

“Just about everyone is waiting to see what will happen with the tariffs,” said Pinard. “We’re being bombarded with news that isn’t necessarily inspiring.”

Families at each other’s throats

Pinard says he was “thrown” by the level of financial anxiety experienced by parents.

Sixty-three per cent report “moderate to extreme” stress, compared with 46 per cent of the general population.

This proportion is similar to last year, but has risen since the first survey in October 2022, when 50 per cent of parents considered themselves to be in this situation.

Pinard says he believes that a lack of access to housing is responsible for the great financial distress experienced by families.

“Finding a two-bedroom home, at prices that make sense on a salary of $50,000 with two children at school, you know that there aren’t many left,” he gave as an example. “We’re really saying that we’re going to be in a difficult situation for a few more years because of the lack of social and affordable housing.”

• READ MORE: Rent increase cases more than tripled at Quebec’s housing tribunal in last 5 years

An acceleration in housing is needed to rectify the situation, in his view.

Pinard is calling for building permits for social housing to be issued more quickly.

He gave the example of a student housing project that Centraide is currently part of.

In 2023, Centraide announced the sale of an underused parking lot in downtown Montreal for the building, but “we still haven’t seen the paper (permit),” said Pinard.

The philanthropic sector has a role to play in the construction of social housing, he said.

In addition to funding, it can help community organizations that are thinking of launching housing projects to acquire the skills needed, said Pinard.

The survey, which aims to better identify the needs of the community, also shows that people do not always make use of the help available.

Some 22 per cent of Quebecers live in a situation of food insecurity, and yet, the report states, “recourse to emergency programs remains relatively limited,” even though they are considered useful by the vast majority of people who have obtained help.

“No one is walking around with a sign saying ‘I need food aid’,” explained Pinard. “So, there’s a gesture that has to be made by the person, and can you imagine the courage it takes when you have a job, your spouse works and you go home with your five-year-old child for the first time?”

This report by The Canadian Press was first published in French on May 8, 2025.