Posted by genieSABRE on Oct 10, 2011
A Nation’s Strong Belief in Homeownership

A Nation’s Strong Belief in Homeownership

WHY Home Ownership is Fundamental

To The Canadian Psyche

Source: Hannif Highclass
Publish:MY BLOG: Toronto Real Estate: Oct 9, 2011

what you should expect

Despite all the recent problems in the housing and mortgage industries, an overwhelming majority of Canadians believe that owning a home is still the Canadian dream.

When asked the simple question, “Do you think that owning a home is still the Canadian dream?,” 81 percent of people who responded to recent Home ownership Survey answered, “yes.” In addition, 7 out of 10 people surveyed believe that owning a home is a good investment.

There’s no doubt that pride in home ownership can be good for neighborhoods and communities; however, the strong tie between home ownership and the Canadian “ideal” makes a hard situation harder for people struggling to stay in their homes.

Graph 1: Clearly shows that we in Canada are also having some of the Foreclosure problems that our United States neighbors are facing but on a far lower scale.
Almost 15% of all the Sub-Prime Mortgage holders in Canada fall into default and account for most of the foreclosures.

The survey also asked the 18 percent of respondents who do not think owning a home is still the Canadian dream why they didn’t. Although there were a wide variety of answers, there were several common themes:

  • Owning a home is too expensive (58 comments – 30%)
  • There is more to the Canadian dream than owning a house (43 comments – 22%)
  • Comments related to the economy (34 comments – 17%)
  • Owning a house is too much trouble/work (14 comments – 7%)

 

Here are some examples of what they said:

"You need to be able to afford and be responsible for a home. It’s not a right."

"Some people don't want to worry about maintaining a yard and everything else that comes along with home ownership. I would rather rent an apartment or condo where landscaping and building maintenance is included in the rent. It isn't something I want to worry about since I lead an active lifestyle and don't have time for those kinds of things."

"It's a leftover idea from another time. A person can possibly live a much more comfortable, stress-free lifestyle by renting."

"Debt experts are saying it’s overrated and that is the easiest way to get into uncontrolled debt."

"Because there is much more to the "Canadian Dream" than just owning a home. Like your health, your family's well being, Kids education and other things are of equal or greater importance."

 

 

The spread of subprime mortgages to Canada is one of the country’s most poorly researched and misunderstood economic afflictions. Government agencies don’t publish numbers on the scope of high-risk lending. Banks and other mortgage lenders do not disclose details about such loans, known in industry parlance as “non-conforming” loans.

Majority of foreclosures in Canada are Home Owners who have taken a Sub-prime mortgage. 

Related Articles of Interest
Canada’s Dirty Subprime Secret
Canada’s sub-prime mortgage time bomb
USA HOME OWNERSHIP



REMEMBER: Real Estate

Home Owners: If, you already own a home – good for you!

May you be blessed with
warmth in your home,
love in your heart,
peace in your soul
and joy in your life.

However, if for any reasons you do intend to move due to upsizing, downsizing, moving to different town or ??? —
genieSABRE recommend you check out our main web site. You will not be disappointed!

Renters: New immigrant, 1st. Time Buyers Renters – its time to stop making your landlord rich.
genieSABRE FREE consultation, will help you & guide you through the whole process from finding the right home, to mortgage approvals, home inspection, lawyers etc Visit our main web, you will not be disappointed!

Real Estate Investors: Home ownership should be your 1st. priority. If you own your own home – Good for you. But now is the time to take that second step – Buying Rental Property for investment. Commercial, retail or home.
genieSABRE has extensive knowledge and experience in this field. As a developer of commercial /retail plazas (built 3 so far) and owners of residential rental homes, we can guide and advice you as to what is best for you according to your personal financial position.

Call: Hannif Highclass @ 416.444.4252

http://www.geniesabre.com

 

Play Video

If you are new to Canada, this homeownership education may help you achieve the dream of homeownership sooner in your life.

  

It used to be that owning a home was the North American dream. But is it a good dream? The financial crisis showed us that maybe everyone shouldn't own a home. But what would that do to the economy?

Heard the slogan "JUST DO IT! THIS IS YOUR WEB BLOG I DID MY PART NOW IT'S YOUR TURN

YOUR COMMENT NEEDED BELOW!

New Immigrant: Where do you stand - ready to take that plunge into homeownership?

Renters: Are you renting by choice or is it about getting qualified?
Post a Comment

One Response to “A Nation’s Strong Belief in Homeownership”

  1. Analou says:

    I am interested in a rnaetl list of properties to see what price and availability, I am in Texas and saw the Villages on internet where are you and are you close to water?Thanks

Leave a Reply

Your email address will not be published. Required fields are marked *


*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

rebatereps.ca