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 Statistics Canada.
According to the latest census release, two-thirds of Canadians owned a home in 2021, down from a peak of 69 percent a decade earlier.
The decline in homeownership rates between 2011 and 2021 was the largest for younger Canadians, with the rate falling to 36.5 from 44.1 for those between the ages of 25 and 29.
Canadians between the ages of 30 and 34 experienced a similar but slightly smaller decline in homeownership, falling to 52.3 percent from 59.2 percent.
Mike Moffatt, an assistant professor at Western University’s Ivey School of Business, said that illustrates why the overall homeownership rate is not as useful for understanding recent trends….
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