Kelowna 3rd for home ownership

Photo: Contributed

Kelowna is known to be called Canada’s Hawaii, a four season playground. Surrounded by beautiful lakes and sandy beaches to enjoy in the summer then to snow and ski hills in the winter. There is no other place like this in Canada, but what is Kelowna’s major downfall? Ask any local and they will tell you it’s the ‘Sunshine Tax’. They will tell you that it’s just too expensive to live here all year round and tough to get ahead.

Here is something that you probably didn’t know; recently shown in the Canada Mortgage and Housing Corporation's annual Housing Observer report reflected that 72% of households in Kelowna do own their own home. Kelowna ranked third overall across the country for home ownership. Calgary placed second with 73% and Cape Breton Island took first place with 75%.

The study also reflected that 12% of households cannot afford to own their own home and 16% can, but would rather rent.

The percentage of building stock after 1980 stands at a high of 55% increase proving Kelowna’s growth.

My point here is that perhaps it’s always easiest to see the negative side of things, but in all, rational statistics don’t lie. The stats show a significant number of residents do in fact own their own home in Kelowna and maybe the grass isn’t always greener on the other side.  Take Montreal as an example, only 34% of residents own their own home. So be happy when you wake up in the morning that you live in such a fruitful community that welcomes growth, culture and opportunity.

This article is written by or on behalf of an outsourced columnist and does not necessarily reflect the views of Castanet.