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Ceinwen's Corner  

Kelowna 3rd for home ownership

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.



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About the Author

Ceinwen Morgan is a born and raised Kelowna gal that has worked in the real estate industry for five years. Keeping writing as her passion, she offers an uncensored bold truth about various topics such as market reviews, politics and news reviews.

Ceinwen has also been writing for Blogcritics.org as well as Up Close & Personal and Up Close & Out Spoken. To follow her writing you can find her on Facebook today!

Comments and inquires are encouraged, so please feel free to send Ceinwen an e-mail at [email protected].

 



The views expressed are strictly those of the author and not necessarily those of Castanet. Castanet does not warrant the contents.

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