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Increase in demand for owner-occupant housing in Canada

Increase in demand for owner-occupant housing in Canada

« Strong job and revenue growth has continued to stimulate demand for owner-occupant housing in Canada. The rate of owner-occupants has climbed to 68,4 % in 2006 in Canada, thus registering its biggest increase since 1971 for an intercensal interval », the 2008 Canadian Housing Observer, published by the Canadian Mortgage and Housing Corporation (CMHC), lets us know.

The annual document of the CMHC can be an important source of information on the evolution of housing in all parts of Canada.

The 2008 Observer offers the first analysis of the dynamic of the pressing needs in matters of housing during a certain period, analysis which allows us to notice that there exists an important rotation among Canadians from urban regions who find themselves in this kind of situation.

One notices that in 2007 expenses linked to housing have pumped more than 300 billion dollars into the Canadian economy. [One also notices]…that overdue mortgage payments remain rare in Canada, because in 2007, only slightly more than a fourth of 1 % of Canadian households (0,26 %) had accumulated 3 months or more of delay on their mortgage payments.

Finally, one learns there that the composition of Canadian households continues to change because the baby-boom generation is getting old. In the last several decades the proportion of households composed by couples with children has sky-rocketed in relation to the totality of the households and the medium size of households has diminished.

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Québec Landlords Association (1)

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