For my 2cents, as long as our historical home ownership % remains the same or trends slowly upwards, all is good in Canada.
Historical Census Breakdown
According to
Statistics Canada data over the past two decades, the headline numbers tracking owner-occupied dwellings shifted as follows: [
1,
2]
- 2001: 65.8%
- 2006: 68.4%
- 2011: 69.0% (historical peak)
- 2016: 67.8%
- 2021: 66.5%
Over a 20yr period, we are up overall. With anything, there will be 'up' years and 'down' yrs, but over a 20yr time period, the overall trend is up.
Asking AI the following question: "How does Canada's home ownership over the last 30yrs compare to the US, UK, France, Australia and Germany", provided the response below.
Canada’s homeownership rate over the last 30 years has
hovered around 66% to 68.6%, closely mirroring peer nations like the Uni
ted States (64-65%), Australia (63-66%), and the UK (63%), while significantly outpacing major European economies like
France (58-65%) and Germany (41-51%). However, Canada's high headline rate masks a severe deterioration in affordability and a growing generational divide. [
1,
2,
3,
4,
5,
6]
Current Rates and 30-Year Trajectory
- Canada: Remained steady near 65–68% for decades, but recent census data shows a downward tick driven by price-to-income imbalances and younger cohorts getting priced out. [1, 2, 3, 4]
- United States: Trailed slightly or matched Canada around 64–65%, experiencing a sharp dip post-2008 subprime mortgage crisis before stabilizing. [1]
- Australia: Historically tracks very close to Canada (63–66%), driven by a similar cultural emphasis on detached suburban property. [1, 2]
- United Kingdom: Hovered around 63–64%, down from peaks in the late 20th century due to shrinking social housing and high entry barriers. [1, 2]
- France: Ranges lower at roughly 58–65%, reflecting a historically strong tradition and availability of long-term renting. [1, 2]
- Germany: Distinctly lowest among peers at roughly 41–51%, because long-term renting is socially standard, well-regulated, and heavily protected
So, to recap the above - Canada
has a higher overall home ownership % than the US, UK, France, Australia and Germany.