Toronto, Ontario | December 16, 2024: Ourboro, in collaboration with researchers from the Conestoga Social Innovation Lab, has unveiled the preliminary findings of its Baseline Impact Study, offering groundbreaking insights into the effect of shared equity on homeownership. The study reaffirms homeownership’s personal and financial benefits while demonstrating the potential of innovations like shared equity to unlock opportunities for those traditionally excluded from the housing market.
Bridging the Gap Between Homeownership and all its Associated Benefits
This longitudinal study tracks quality-of-life improvements among Ourboro co-owners compared to renters. As part of the study, 9,412 individuals were surveyed by Angus Reid and Dynata. Initial findings reveal that Ourboro co-owners outperform their renting peers across multiple metrics, including:
- Higher Satisfaction: Ourboro homeowners scored 227% higher in feelings of neighbourhood belonging, 3x higher in life satisfaction, and 146% higher when asked if their home meets their needs.
- Economic Optimism: 80.6% of Ourboro homeowners expected that their economic situation would improve in the coming year, compared to only 44.6% of active buyers.
- Additionally, Ourboro clients tend to move into neighbourhoods with shorter commute times, lower housing costs as a percentage of their income, and higher suitability for household needs—further enhancing their overall quality of life.
“These preliminary findings show some tangible benefits of co-ownership earlier than I would have anticipated,” said Dr. Anthony Piscitelli, Director of the Conestoga Social Innovation Lab and lead researcher on this study. “The potential of co-investment models like Ourboro to improve health, social, and economic outcomes for those locked out of the market, are promising.”
“Homeownership has long been associated with greater financial stability, better health outcomes, and stronger community ties,” said Alex Kjorven, Chief Product Officer at Ourboro. “Through this study, we’re not only reaffirming those benefits but also showing that shared equity models can make those opportunities accessible to those who might otherwise be left out.”
Other insights into Ourboro homeowners include:
- On average, co-buyers become homeowners up to nine years sooner than they could on their own.
- 59% of Ourboro co-owners identify as visible minorities, with 61% born outside of Canada.
Looking Ahead
As the study continues over the next 10 years, researchers aim to uncover deeper insights into the long term effects of co-ownership. This pioneering research will further explore whether shared equity models like Ourboro’s can redefine the future of homeownership, making it more inclusive, accessible, and impactful for generations to come.
About Ourboro
Ourboro is a private, Toronto-based company that co-invests up to $250K towards a buyer’s down payment, purchasing a share in the future value of the home. Since its market launch in 2022, Ourboro has popularized its co-ownership model across Ontario. The company has now co-invested in over $150M worth of residential properties across Southwestern Ontario, and has over 2,000 realtors and mortgage brokers as part of its growing referral partner network.
This is achieved through the management of several private real estate funds. Ourboro investors gain residential real estate exposure by co-owning homes alongside vested homeowners. Ourboro has a mix of public, private and institutional investors that include the Government of Canada, the LiUNA Pension Fund of Central and Eastern Canada, Fengate Asset Management, Peerage Capital Corp. and various others.
Ourboro is a partner and portfolio company within the Peerage Capital ecosystem, which is a leading North American business services and private investment firm with approximately US$8 billion (C$10 billion) in total assets under management (AUM) and administration. For more information about Ourboro or to learn more about the study findings, please visit https://ourboro.com/our-impact/.
About the Conestoga Social Innovation Lab
The Conestoga Social Innovation Lab is a research centre operating at Conestoga College Institute of Technology and Advanced Learning, located in Waterloo Region. The Lab fosters partnerships between Conestoga applied researchers and cooperatives, non-profits, social enterprises, and change-makers to solve tangible real-world problems.
The lab’s partnerships focus on supporting social change with a long-term positive societal impact, using a collaborative research approach undertaken on behalf of and in support of organizations and change makers. The lab’s research addresses real-world problems supporting the implementation of practical solutions. The work of the lab also provides Conestoga students with opportunities to gain hands-on experience in applied social innovation research. Research results are shared widely to allow others to learn from the findings.
Media Contact:
Ourboro:
Alex Kjorven, Chief Product Officer, Ourboro
Conestoga College:
Brenda Bereczki, Executive Director, Corporate Communications
View more Ourboro Press: https://ourboro.com/press/