Written by: Buffini & Co Owning a home has long been a cornerstone of the Canadian Dream. Although the real estate market has shifted over the last century, homeownership continues to be a goal many hope to ultimately achieve. 1914 - 1918

• Workers flocked to cities to work in war-related industries.
• There was insufficient housing for this rise in population.
• Building materials diverted to the war effort contributed to shortages.

1930 - 1960

• The Great Depression's widespread unemployment resulted in low homeownership.
• 1944's National Housing Act helped homeowners with mortgage insurance and low-income housing.
• Suburbia grew in the 1950s as homeowners moved out of cities.

1970 to Today

• Increased immigration during the '80s and '90s contributed to higher demand for housing.
• The Canada Mortgage Housing Corporation implemented programs to help housing affordability.
• Homeownership rate has hovered around 68% since 2019.

 

Buying or Selling a Home in 2025?

Preparing ahead of time as much as possible will help make the process go smoother. If you're looking to buy

• Get preapproved by a qualified mortgage lender.
• Start a designated down payment account.
• Hold off on other major expenses.

If you're looking to sell

• Start getting organized and declutter.
• Spruce up your curb appeal.
• Make needed repairs and cosmetic updates.

If you're a renter

• The number one thing you can do is improve your credit by paying down debt.