ownership rate in the country.
He cited data that shows that 65 per cent of Americans own their homes, in Canada 60 per cent, in Europe 70, while in Nigeria about 15 per cent of the population owns their homes, saying that there is a need to encourage more Nigerians to purchase their own homes through mortgage. The Managing Director, Design Union, Mr Anthony Aihie, said building wealth through the property ladder must come with economic considerations of housing affordability, family settings, and the ability to commute easily.
The Chief Executive Officer, RESE Advanced Technologies, Folajimi Ogunsiakan, said home ownership contributes to quality of life and financial stability. According to him, a crucial point about housing affordability is to remove ego but be practical, pragmatic and focus on wealth creation.
Source: Real Estate Daily Report (realestatedailyreport.net)
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