Genworth Study Reveals…
The desire for homeownership is alive and well in Canada, with many Canadians willing to go to great lengths for it. According to the Genworth Mortgage Insurance Company Canada (“Genworth Financial Canada”) First-Time Homebuyer’s Monitor, 68 per cent of renters said they would be willing to delay major purchases and more than half would give up vacations in order to own their own home.
The national opinion poll provides insight into what Canadians would do – or would not do – to fulfill their dream of homeownership or to stay in a home they have purchased when times are tough:
82 per cent of current owners would fore-go vacations in order to keep up with mortgage payments.
65 per cent say they would take on a second job if they risked losing their home.
44 per cent say they would take on a renter to maintain homeownership.
While today’s report shows what Canadians would do to achieve homeownership, just 16 per cent of Canadians are fully prepared for an interruption in income that puts their home in jeopardy.
“The survey findings confirm that people remain passionate about their homes,” said Peter Vukanovich, President of Genworth Financial Canada. “When faced with financial difficulties, staying in a home they own is a priority. At Genworth Financial, we help them do just that through our Homeowner Assistance Program.”
For more information on Genworth’s Homeowner Assistance Program, visit www.HomeownerAssistance.ca For ca, call 1-800-511-8888 or contact your lender or mortgage broker.
The survey of 2,000 Canadians was conducted in September, 2009, and builds on results from an earlier poll of 2,541 Canadians conducted in May, 2009. The complete Genworth Financial Canada First-Time Homebuyer’s Monitor with a regional breakdown is available at www.genworth.ca.
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