Elspeth Manning

In the annual RBC Homeownership Study undertaken by the Royal Bank of Canada, almost three-quarters of Canadians, or 73 percent, believe that they or their families are well- positioned in the event of tumbling home prices.  The survey indicated that Canadians in general were very confident they have the means necessary to weather a drop in house prices and that they are being responsible in paying down their mortgages. 

In the North Okanagan home sales have stabalized and investment is a reliable option.  Many analysts believe that the household debt is out of control with their debt ratio.

Canadians strongly believe that real estate investment in Canada is the best choice when making large investments, and Marcia Moffat, RBC Head of Home Equity Financing, found these statistics comforting when the home purchase may very well be the largest investment one makes in their lifetime.   She believes that the stability in the economy keeping employment on a reliable track with rising incomes has created this confidence.   

Fewer Canadian said it was better to buy now than wait, as rising home prices were the No. 1 concern surrounding a home purchase, and secondly rising mortgages rates.