Canadians and Home Mortgages - A Surprising Statistic!

By: Ian Campbell | Thu, May 24, 2012
Print Email

Why Read (if you are a Canadian): Because, if accurate, this is a surprising, and arguably foreboding, statistic.

Featured Article: An article reports that a recent Bank of Montreal survey reported that 51% of Canadians plan to retire prior to their home mortgages being paid out in full. The article reports that Phil Soper, chief executive of Royal LePage Real Estate Services, a major Canadian realtor, has said that times have changed - and that he believes Canadians can handle the burden of post-retirement mortgage balances. Mr. Soper is reported as having attributed this willingness to carry post-retirement mortgages to:

Commentary: In Canada residential mortgage interest incurred by homeowners is not deductible for personal income tax purposes, unlike residential mortgage interest that is deductible by homeowners in the United States. For this and other reasons it follows that these survey results may be seen as highly surprising on a number of counts:

In the end, if the reported survey is statistically valid, going forward the attitude toward home mortgages it conveys does not auger well for those Canadians who fall into the 51% who plan to carry house mortgages into their retirement years. Hence, the survey results do not auger well for Canadians generally, since how the majority behaves has to impact the minority to some degree.

Half of Canadians plan to retire with mortgage: survey
Source: The Financial Post, Garry Marr, May 16, 2012
Reading time: 4 minutes



Ian Campbell

Author: Ian Campbell

Ian R. Campbell, FCA, FCBV
Economic Straight Talk

Through the Economic Straight Talk Newsletter Ian R. Campbell shares his perspective on the world economy, the financial markets, and natural resources. A recognized business valuation authority, he founded Toronto based Campbell Valuation Partners (1976), Stock Research Portal (2007) a source of resource companies market data and analytic tools, and Economic Straight Talk (2012). The CICBV* annually funds business valuation research in his name**. Contact him at
* Canadian Institute of Chartered Business Valuators
** through The Ian R. Campbell Research Initiative

The full version of The Economic Straight Talk Newsletter is published each trading day. To get your Free 14-day trial subscription, visit No obligation or credit card required.

Informed Investors are Successful Investors

Comments and opinions expressed in these commentaries are those of the authors. They do not constitute individualized investment advice, are provided "as is", may change without prior notice, and are used at your own risk. The information and content provided or referenced may be incomplete, inexact, or incorrect. Your use of these commentaries is subject to the Economic Straight Talk Terms of Use and Legal Disclaimer

Copyright © 2011-2013, Stock Research DD Inc., all rights reserved

All Images, XHTML Renderings, and Source Code Copyright ©