IS HOME OWNERSHIP DREAM DEAD FOR YOUNGER ADULTS ?

Sep 21, 2022

By Christine Ross

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Homeownership is on the decline across Canada with young adults less likely to own a home last year than they were a decade ago.

Eric Olsen with Statistics Canada says rates fell in all provinces and territories with the exception of one.

“The home ownership rate dropped in 12 of the 13 provinces and territories with the exception of the Northwest Territories, the largest declines occurred in Prince Edward Island and Nova Scotia with declines of 4.6% and 4% respectively while British Columbia and Ontario recorded next largest declines of just over 3% each.”

Nationally, the homeownership rate fell from 69% a decade ago 66% last year.

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