Thursday, June 05, 2008

Canadian Home Ownership At Highest Level

Home ownership in Canada in 2006 was at its highest level since 1971.

More than 2/3 (68.4%) of Canadian households owned their dwelling in 2006.

Between 2001 and 2006 the median selling price for a home rose to C$200,474 from C$134,240.

Prices reflected Canada's economic climate over the period.

The number of homeowners with a mortgage hit 57.9% in 2006, the highest level since 1981.

The ability of home owners to repay their mortgages isn't a source of concern yet.

Looking forward, we might get into a situation where mortgage payments grow so large that they start to squeeze out spending on other items, to this point it's not obvious that's happened.

Labels: , ,


Post a Comment

<< Home