Born in Canada or not, Ontarians stand united on the value of home ownership

A large majority of Ontarians born outside of Canada say that home ownership is important to them (80%), slightly outweighing those born in Canada by five points (75%), shows new research from Ipsos for the Ontario Home Ownership Index, a semi-annual study commissioned by the Ontario Real Estate Association (OREA). With Canada’s 150th birthday just around the corner, Ontario Realtors are encouraging home owners to show their national pride by accenting their homes with Canadian effects.

“The unity between Ontarians, born here or not, reinforces the notion that home ownership truly is the Canadian Dream,” said Ettore Cardarelli, President of the Ontario Real Estate Association. “When my family and many of their friends immigrated to Canada in the 1960s, home ownership was one of their primary motives. Buying a home to raise a family in was what everyone coming to this country did. The real estate market may have changed since then, but the dream is still alive.”

The research found that 83% of Ontarians born outside of Canada agree that owning a home gives them a sense of pride, compared to 77% of Ontarians born in Canada. Thinking about real estate as an investment, 84% born outside of Canada say it is a good investment with 81% born in Canada saying so.

“We’d love to see a Canadian flag or any other kind of Canadian symbol on every lawn, porch, deck, garage or window this Canada Day,” said Cardarelli. “We have so much to be proud of as Canadians, and this small gesture is a wonderful way to unite our communities and show our gratitude for this amazing country. I’ll personally be waving my Canadian flag on my front lawn.”

In Ontario, the rate of home ownership is 71%, according to the 2011 National Household Survey. At OREA, the Association’s new vision is about keeping the Canadian dream of home ownership within reach for future generations and giving its members the tools they need to help home buyers and sellers through the biggest financial transaction in their lives.