OTTAWA — Canada’s homeownership rate is on the decline, with young adults in particular less likely to own a home in 2021 than they were in 2011, says…
According to the latest census release, two-thirds of Canadians owned a home in 2021, down from a peak of 69 per cent a decade earlier.Sign up to receive daily headline news from the Calgary SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
“As people get older, they’re more likely to own a home,” he said. “That’s why I think it’s going to be important to break down the data by age cohort.”Article content “I have found that a lot of our younger buyers have been hesitant now and have exited and decided to rent for a little bit,” she said.
The median monthly shelter cost for renters went up 17.6 per cent between 2016 and 2021, outpacing inflation, as the consumer price index rose by 9.5 per cent over that same period. For homeowners, the median monthly shelter cost went up by 9.7 per cent. Moffatt said the data doesn’t give an accurate depiction of housing affordability because of these support measures.
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