Brad Sallows
Army.ca Legend
- Reaction score
- 8,724
- Points
- 1,040
Most people downsize with advancing age.This - so many forget that along with their house going up so is everyone's else. At least until the try to sell to upgrade to a new place they liked and realize it is now out of their range.
The "home ownership rate" - whatever is encompassed by that measure - typically lies between 65% and 70%, and it's on the low side right now. A few bits and pieces here.
"The portion of Canadians living in owner-occupied homes is higher now than it was in the early eighties. In 1981, 62.1% of Canadians lived in their own home. In 1990, the portion was up slightly, at 62.6%.
At the start of the new millennium, the portion of homeowners in Canada had risen to 65.4% and continued to rise, reaching the highest peak in 2014 when homeownership was 69.5%. It has since fallen to 66.5% according to the 2021 census, the lowest rate since 2002."