Queen's University

Stats Canada home ownership study: Queen's University expert

2013-01-30

 

Queen’s University real estate expert John Andrew is available to talk about today’s Statistics Canada study on the trends of homeownership trends (by age and household income between 1981 and 2006).
Dr. Andrew is the director of the Queen’s Real Estate Roundtable and a professor in the School of Urban and Regional Planning.
“What’s most noteworthy about the findings of this Stats Can study is that the likelihood of someone owning a home seems to depend as much on their family status (single, married, children) as it does on their income level. A lot of the research to date has suggested that as people get older, their income rises and they are more likely to own rather than rent their home; and that people in their twenties (so called “Millenials”) are much less likely to own their own home today than in previous decades. This study contradicts this to come extent, in its finding that regardless of income level, home ownership rates of single people have risen significantly. If you have children, on the other hand, you are much less likely to own your home now than 25 years ago, unless you have a relatively high income. Combined with a huge growth in the percentage of household units now consisting of single people, this finding has large implications for the demand for different forms and sizes of homes. It suggests an increasing demand for small homes (including condos in downtown areas) and a decreasing demand for the traditional, 3-4 bedroom house, often located in the suburbs. Could the developers of the huge number of high-rise condos being built in cities like Toronto be right after all,” Dr. Andrew says.
To arrange an interview, please contact communication officers Michael Onesi (office: 613.533.6000 ext. 77513, michael.onesi@queensu.ca) or Anne Craig (office: 613-533-2877, Anne.Craig@queensu.ca) at Queen’s University News and Media Services Department in Kingston, Ont., Canada.

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