Canadian Homeownership Jumps In Older, Non-University Educated Demographics

Canada’s national statistics agency crunched numbers on the age and education of homeowners. Statistics Canada’s (Stat Can) latest study shows the rate of homeownership increased from 1999 to 2016. However, the increase in ownership is due almost entirely to aging demographics. The study also reveals that university educated households no longer have the highest rate of ownership in the country.

Canadian Homeownership Increase Due To Aging Population

The rate of homeownership increased across Canada, especially in older demographics. In 1999, the rate of homeownership was an already high 60%. By 2016, this number jumped to 62.8%. The largest increase was in the 55 to 64 demographic, which jumped from 74.7% to 78.4% over the same period. Stat Can analysts note, “Almost all of this increase was because of population aging, given that families in older age groups are more likely to own their homes.”

Canadian Homeownership Rate By Age

The rate of Homeownership by age group.

Source: Statistics Canada, Better Dwelling.

Some age groups did see a decline in the rate of homeownership. Predictably, those between the age of 19 to 24 saw the rate of ownership drop from 12.5% in 1999, to 10.3% in 2016. More surprising is the decline in people aged 45 to 54. The age group saw the rate of ownership fall from 72.7% to 70.7% during the same period. There was no clear reason for this shift, but the age bracket still has the second highest rate of ownership.

University Educated Households Fall Behind On Ownership

Getting a university degree didn’t quite provide the edge on ownership it once did. Households headed by those with a university education saw the rate of ownership rise from 66.3% in 1999 to 67.7% in 2016. Household headed by those with a diploma or certificate saw ownership rise from 62.3% to 68.7% over the same period. University educated homeownership is still very high. However high paying trade jobs seem to be working out fine for  those that want a home.

Canadian Homeownership Rate By Education

The rate of homeownership by highest education achieved by the head of household.

Source: Statistics Canada, Better Dwelling.

Those without any post-secondary education saw the rate of ownership decline. Households headed by someone without high school saw the rate of ownership drop from 57.1% in 1999, to 51.8% in 2016. Those with only a high school diploma saw the rate drop from 57.1 to 55.6% over the same period. Both rates are still very high rates of homeownership. For context, if all of Canada was at the rate of non-high school educated ownership, it would outrank Switzerland or Germany.

In a fast moving market, the data in the latest study is a little dated compared to recent surveys. However, the trend most likely will remain intact failing no major economic shift. That is, homeownership is most popular with older Canadians. University degree holders may have a higher rate of ownership, but the edge is wearing thin. Canadians headed by households with trade education are now the top spot for ownership.

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  • Bruno 5 years ago

    Canadian university degrees aren’t even worth the paper they’re printed on now. If you don’t get into a hard to get into program where the seats are usually gobbled up by foreign students, you might as well go to college instead. You’ll be trained for a skill that you can actually use.

    • Chester Pape 5 years ago

      They say that colleges such as Seneca, GB, Humber, Centennial and even the remote ones like Fanashawe and Conestoga are filled to the brim with foreign students.

      College graduates are even begging for unpaid internships these days!

      It’s never been a great time to be a real estate agent which requires no degree or diploma, because at least real estate agents earn commission, but college graduates are working for free!

  • DB 5 years ago

    NOT TRUE . Seats are limited to foreign students if the courses are full or if there are vacancies and seats are available exceptions will be made. The govt. will not allow this to happen since they are heavily subsidized by them.. Your statement has no place here and sounds like you should be living south of the boarder where there are more of your ilk who seem to have the same logic.

  • SUMSKILLS 5 years ago

    I think if you work soon after high school, save up a deposit before the age of 28, while living at home, you’ll be ahead of folks who spend many years in university not saving, then all the years these folks can’t save due to huge student debt.

    I know a lot of folks doing way better than me with my graduate degrees, and they have little formal education. Many only have nine months of private higher ed. Work as highly paid technicians. Their companies trained them over a decade and continue to upgrade their skills and knowledge on their dime. I also know lots of folks with PhD’s barely getting by, decades after they got their degrees.

    • CanadaSucks 5 years ago

      After four years of engineering school, I was making only 5000$/year more compare to a municipal employee driver a snow truck. I you plan on staying in Canada, no point of going into university.

      This is Canada. Same thing here. Canada is a backward nations compares to other European and Asians nation. You want to know what immigrants think of Canada. Go on YouTube and put Canada sucks in the search bar. Read the comments in the following videos

      Canada Is a Shithole – CANADA EXPOSED by Yoel Rekts

      Immigrants are calling Canada backwards, racists, low health care quality. long Winter, lack of freedom of speech.

      Canada does not have a credible long term economical strategy like China and South Korean.
      Canada long term strategy is to flood the nations with immigrants to create economical activity. Immigrant deposit money into Canadian bank which money can then be loaned for mortgage. Student come to Canada and rent apartment therefor injecting money into the real estate construction industries.

      Unlike China and South Korean strategy that is to become an exporter of manufacturing goods. Canada strategy is to lie and lure immigrants in. Why do you think Bernier immigrant number are also high.

      • Realtalk 5 years ago

        You learned a hard truth, that degrees are basically worthless these days.

        In terms of immigrants hating canada lol.

        Only certain class of immigrants hate canada. Middle income most because like locals they get squeezed. Poor ones love it (welfare state) and ultrarich love it because no questions asked on foreign income/can wash cash and obfuscate sources.

        You mention china and korea LOL. Have you lived in those places? Good luck doin business in china without paying bribes, and if your succesfull good luck not being robbed by the ccp and their thugs.

        As for korea they have similar problems to canada, highly educated population but not enough jobs. Too much “shame” if you fail for entrepreneurs to be a large pop. Also air quality is poor but not as bad as disgusting shanghai.

        My advice would be stop looking for work and make your own job and earn USD. If you can do that canada suddenly becomes 33% off and if you really dont like it you can move your income with you.

        • Bob Odenkerk 5 years ago

          Degrees are not worthless: We need doctors, engineers, architects, scientists, lawyers… Ok, maybe we could do without lawyers.

          I don’t know about you, but I wouldn’t want a high school graduate designing the bridge I’m driving over. That person needs to be well educated. However, they also need to earn more compared to some individual who dropped out of high school.

          The problem is we pay low-level municipal and unionized employees far too much. Sweepers on construction sites have unionized and can make six-figures in some cases. A guy with a broom sweeping up bits of pipe offcuts and saw dust. $100,000 a year. That’s insanity. And I’ve seen it.

      • Joseph 5 years ago

        As soon as you mentioned Canada doesn’t have a credible long term plan like China, I stopped reading. Bud, if you don’t understand what communists do to their own people, you need to wake up. You’re a long way from knowing anything with the statement you made.

    • John 5 years ago

      This is a hard truth people won’t want to acknowledge.

      The fact is every tradesperson starts out making slightly above minimum wage straight out of high school, with upper-class limits on their salary potential depending on how they use their trade.

      College/University graduates loose 2 to 5 years studying, paying out living and tuition costs, only to make minimum wage straight out of school with slow pay progression.

  • MH 5 years ago

    Sad reading. This country is in for a sea of pain. It will either cross it willfully learning its lessons and making sure that it will never again slide into the abyss of systemic RE speculation and money laundering or it will go down in denial. So far it looks like it will be the denial…

    If you are young and studied hard consider your options carefully. Lately I hear stories about young professionals leaving Canada being offered twice as much in compensation on top of not having to pay for the privilege of raising their families in the RE-fueled laundromat.

  • starman 5 years ago

    Canada is a great country. yes, it has affordability problem but please don’t dump on it. grew up here got a very good education. went to a large university in Toronto. got a scholarship to go to grad school at UCBerkeley. nervous for nothing – the education i received in undergrad was world class and comparable to my classmates who spent >$100K for ivy league education. Came back to Toronto to be a professor. losers focus on winners. winners focus on winning. a lot of talent in Canada. the commenters here just happen to not be the ones with the talent.

  • SH 5 years ago

    Surely the solution is bump the mass immigration numbers even more. Canada is only 2nd in the developed world after New Zealand for immigrant intake per capita. Surely we can take the #1 spot and suppress the wages and opportunities of native-born Canadians even more while ensuring a steady supply of Liberal voters (why do you think Trudeau reduced the residency requirement for citizenship from 4 years to 3?).

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