Our Social Mission
Access to Homeownership, for all
The Social Impact of Homeownership
Building Wealth and Improving Quality of Life
Homeownership is a symbol of independence and a dream for many Canadian households. It offers an opportunity to build wealth and enhance social status.
A study by the National Association of Realtors has revealed that homeownership not only improves children's academic achievements but also increases involvement in community and volunteer activities, promotes better health outcomes, lowers crime rates, and reduces dependency on welfare.
Additionally, owning a home instills a sense of pride and belonging, creating a community in which individuals have a tangible investment.
Access to Property is Still Problematic in Canada
Disparities among Racial and Ethnic Groups
According to a study led by the Canada Mortgage and Housing Corporation (CMHC) in 2021, homeownership rates vary greatly between racial groups.
The Black, Arab, Native and Latino groups present the lowest homeownership rates in Canada.
73% of Canadians are homeowners, against 45% of the Black, 47% of the Arab, 49% of the Natives and 51% of the Latino populations.
Investigating the Root Causes
It may be tempting to attribute the disparities in homeownership rates among racial and ethnic groups in Canada to factors such as income level, language proficiency, or geographic location.
However, even when controlling for these variables, a significant negative difference remains for Black, Aboriginal, Arab, Latin American, Filipino, West Asian, mixed race, and other visible minority groups.
The HomeyBird Impact
Building Wealth and Improving Quality of Life
HomeyBird educates people about the process of buying a home to reduce disparities in access to homeownership for minorities.
By providing comprehensive information and resources on the homebuying process, such as how to obtain financing, navigate the legal process, and understand credit scores, HomeyBird can empower individuals from marginalized communities to take control of their financial futures and access the opportunities offered by homeownership.
Additionally, HomeyBird can help address structural barriers that minorities face in the home buying process by providing education and resources to potential buyers on fair lending and housing practices, and advocate for policies that will help increase access to homeownership for minorities. By doing so, HomeyBird can play a role in creating more inclusive and equitable housing markets, and help bridge the gap in homeownership rates between minority and non-minority groups.