Good news in RBC's latest home ownership study
According to the Royal Bank, more Canadians intend to buy a new home in the next two years. Ten per cent of the 2,047 people surveyed for the 17th annual study said they plan to buy a home by 2012 — up from seven per cent two years ago. The bank says 15 per cent of those in the 18 to 24 bracket say they are very likely to buy — almost double the level recorded in 2009.
The study also
found that 91 per cent of Canadian homeowners believe a home is a good
investment, the highest level in 12 years. One-quarter of those surveyed said
they expect their home to be their primary source of income when they retire. In
addition, 44 per cent of Canadians who plan to buy a new home in the next two
years plan on choosing a fixed rate mortgage.
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Source: FVREB elink Newsletter