Canadians Confident About Housing
By Elli Davis, March 12, 2011
Photo by Rosino
The majority of Canadians believe they know what they’re doing when it comes to housing — at least according to the recently released 18th annual Homeownership Study released by the Royal Bank of Canada (RBC).
Its results show, not surprisingly, that a vast majority of about 90 per cent of the Canadian public consider real estate to be a good investment. Another high percentage, approximately 85 per cent, of our fellow citizens think they are doing a pretty good or even excellent job of paying their mortgage. Furthermore, roughly 73 per cent of them feel well-positioned to deal with a potential drop in the market. In Ontario, the market is balanced according to 46 per cent of Ontarians (the highest percentage of agreement with this statement in the country).
‘Balanced’ is definitely a positive word to describe the situation and I am glad people feel this confident about housing. They seem to be quite sure of themselves, too, which is always nice to see!
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Royal LePage Ltd. Brokerage
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Jonathan thought on March 17th, 2011 6:22 pm
It’s true, we are seeing the same confidence in the West of Canada too. I recently spoke with a few on the real estate head honcho’s from the U.S. when I was down at the Banff Western Real Estate Connection and they were saying that in Phoenix 1 of every 2 homes are being bought by Canadians this winter. So Canadians must be confident about the market down south as well.