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Changing Patterns in Canadian Homeownership and Shelter Costs, 2006 Census: Condominium status

Condominium households with mortgages dominated by younger households

Condominium households with a mortgage were dominated by younger households. Between 2001 and 2006, the two youngest household maintainer age groups increased their share of condominium households with mortgages at a faster pace than any other age group.

These two age groups accounted for almost one-quarter (24.7%) of all condominium owner households with mortgages in 2006, up from 21.8% in 2001.

For households with a primary maintainer aged 24 and under, the proportion of owner households that owned a condominium with a mortgage rose from 11.6% in 2001 to 18.0% in 2006.

Similarly, for households with a primary maintainer aged 25 to 34, the proportion of owner households that owned a condominium with a mortgage increased from 9.4% in 2001 to 13.2% in 2006.

Conversely, for the 39.2% of condominium owner households without mortgages in 2006, it was in the oldest age group of the primary maintainer where the share increased the most. For households with a primary maintainer aged 75 and over, the proportion of owner households living mortgage-free in a condominium rose from 12.7% in 2001 to 14.0% in 2006.

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