A new study shows that homeownership rates are rising for recent immigrants in Canada. Between 2018 and 2021, immigrant homeownership grew while rates for Canadian-born citizens declined. In Ontario, immigrant homeownership reached 40% by their fifth year. In contrast, native-born homeownership fell below 47%. Economic-class immigrants achieve homeownership rates similar to those of Canadian-born buyers within five years. However, the study also notes some financial challenges. Recent immigrant buyers often have lower incomes but purchase more expensive homes. This trend can lead to higher mortgage debt and lower retirement savings.