Canadian Home Ownership
Friday Apr 30th, 2021
Canadians across the country take great pride in homeownership, and with good reason. While it’s true the financial benefits like building equity and investing are major driving factors, we continue to learn and study the social impacts being a homeowner can bring to individuals and families.
Countless factors can be attributed to the satisfaction one finds in life. Things like a sense of financial security, rootedness, and greater control over one’s life are key pieces in that puzzle. We all have differing opinions, and motivations when it comes to ranking those items, but that they can all be associated with homeownership is where we find consensus.
To add depth to these ideas we examined history, research and analysis from sources across Canada, the United States, Europe, and elsewhere in the world in our recently released white paper, The Homeownership Dividend for Canadians.
A “homeownership dividend” as outlined in the white paper, yields rewards not only for the direct homeowners, but also for the communities they live in.
The federal government has supported Canadians in their pursuit of homeownership for decades – it’s widely acknowledged for having a positive impact on the broader population, reaching past the boarders of income, region, and age. However, considering the comparisons in distribution of wealth in our country can be quite stark – it’s important to note that housing represents nearly 50% of the total net worth for the Canadian households with incomes below $56,495. Click to read more