Economy Delays Home Buys for 27% of Homeowners

While this poll was conducted in the U.S. I am sure the results would be similar in Canada.

More than one-quarter (27%) of American homeowners say that the current economic environment is causing them to put their plans to buy a new or existing home on hold, according to a new Ipsos Public Affairs poll conducted on behalf of Realogy.

Among those who are most likely to say they are putting off a home purchase because of the financial crisis:

• Non-white homeowners (46%)
• Homeowners under age 35 (38%)
• Parents with children under 18 (33%)
• Those with a household income of less than $50,000 (33%)

Despite current hesitation to buy a new or existing home, nine in ten homeowners (91%) agree that owning a home is still the best long-term investment they can make with their money. Nearly three-quarters (72%) say that aside from shelter, they primarily see their current residence as a long-term investment.