Canadians love home ownership.
That was one of the key findings from a just released survey conducted for the Canadian Association of Accredited Mortgage Professionals (CAAMP) by Maritz Research.
While it may not be surprising to find that people are happy about their homes, they might think differently about their mortgage. That, it turns out, is not the case. By and large the vast majority of Canadians are very positive about what is after all their biggest form of debt. They even referred to it as “good debt”.
A careful review of the report and the reason for this positive attitude becomes clear. Mortgage debt is seen as the tool which enables homeowners to live the lifestyle they want and prefer.
The survey identified some short term (12 month) concern for the economy. Despite this nervousness, Canadians are surprisingly positive, optimistic, resilient and comfortable with their homeownership and with their mortgage. In fact, the survey determined that they would make the same decisions over again.