The housing market may have experienced some ups and downs this year, but the spirits of potential first-time homebuyers across Canada remain strong, according to Genworth Financial Canada’s First-Time Homebuyer’s Monitor released yesterday.
“The survey results show Canadians have a deep emotional attachment to homeownership,” said Peter Vukanovich, President of Genworth Financial Canada. “Most people closely associate financial security and emotional well-being with homeownership. That’s particularly true among first-time homebuyers.”
The study measured both the financial and psychological factors of homeownership – providing the following insights into the link between homeownership and personal fulfillment:
84% agree with the statement, ‘Owning a home provides a greater sense of emotional well-being and security’
85% believe that even though homeownership may mean more work and effort, they’d rather own than rent
88% say they would feel more financially secure owning their own home
The national survey of more than 2,500 Canadians was conducted between April 24th and May 4th, 2009. The complete First-Time Homebuyer’s Monitor with a regional breakdown is available at: http://click.icptrack.com/icp/relay.php?r=10344338&msgid=239886&act=FV56&c=191858&admin=0&destination=http%3A%2F%2Fwww.genworth.ca%2Fcontent%2Fetc%2Fmedialib%2Fgenworth_ca%2Fpdfs.Par.2386.File.dat%2FFTB_Monitor_June_2009_EN.pdf
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