The True Value of Homeownership
After more than a year of record-breaking home sales activity across the country, it’s clear, Canadians want a place of their own to call home.
And while most may be familiar with the financial benefits—homes provide a chance for owners to build equity and are a major source of wealth for millions of households across the country—they may not be as familiar with the non-financial benefits of homeownership. These include a wide array of civic, educational, health, and socio-cultural benefits to one’s family and the broader society.
Read more about the benefit of homeownership:
The benefits of homeownership extend across income levels, ages, and regions. In fact, the data and research prove many of these benefits are most pronounced for low- and middle-income households. Consider, for instance, that housing represents nearly 50% of the total net worth for Canadian households with incomes below $56,495.
Written by Michael Shaw
Published by CREA Cafe