Jan 29, 2013, Home ownership levels on the rise

More Canadians buying rather than renting

By Mario Toneguzzi, Calgary Herald January 29, 2013

Home ownership levels on the rise

Calgary realtor Christina Hagerty of Sotheby’s International Realty Canada has witnessed the rise in home ownership levels in recent years.
Photograph by: Gavin Young Gavin Young , Calgary Herald

CALGARY — Between 1981 and 2006, Canadians increasingly chose to own, rather than rent, their homes, says Statistics Canada.

In a report released Tuesday, the federal agency said 62 per cent of households owned a home in 1981 and by 2006 this proportion had risen to 69 per cent.

“Households with higher incomes, sufficient wealth for a down payment and a stronger connection to the labour market were more likely to own rather than rent. A lower cost of owning relative to renting was associated with home ownership,” said the federal agency.