Home ownership out of reach for Canadians

Author

Jay Lutz
June 05, 2023

Sponsored by Eguana Technologies

Canadians still aspire to home ownership

In a recent survey conducted by the Canadian Imperial Bank of Commerce (CIBC), it was found that despite concerns about affordability, homeownership remains a significant goal and a source of pride for many Canadians.

The aspiration to own a home also ranked high among non-homeowners, with 71% expressing a desire to own a property. However, concerns about inflation and rising interest rates weighed heavily on the minds of mortgage holders (82%) and renters (64%), who fretted about their ability to meet mortgage payments or keep up with rising rental costs.

The poll revealed that 63% of respondents with children at home intend to assist their kids with a down payment in the future, with 79% expressing worries about their children's future home affordability.

You can read more on the matter here.

Based in Calgary, Alberta, Eguana Technologies Inc. designs and manufactures high performance residential and commercial energy storage systems. Eguana has two decades of experience delivering grid-edge power electronics for fuel cell, photovoltaic and battery applications, and delivers proven, durable, high-quality solutions, from its high-capacity manufacturing facilities in Europe, Australia and North America.

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FULL DISCLOSURE: Eguana Technologies is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Eguana Technologies. The author has been compensated to cover Eguana Technologies on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.