CANADIAN IMMIGRATION NEWS

More new immigrants are homeowners in Canada

Thursday, 8 October 2009

A study by the Canada Mortgage and Housing Corporation has shown that more new immigrants are becoming homeowners and this is happening earlier in their lives in Canada.

This study followed the house hunt of new Canadians in Toronto, Vancouver and Montreal at different points in their first four years in Canada.

The findings indicate that within six months of arrival 17 percent of new immigrants were homeowners this early in their life in Canada, while at four years more than half of new Canadians were homeowners.

Thus, new immigrants have been responsible for almost a third of the housing sold in the Toronto area in the last eight years.

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