, 73 per cent of participants said they believe home ownership is the best investment they can make in 2024, a similar number to last year. Now for a reality check.
Expect to hear a lot about housing this spring. Affordability for first-time buyers can only be described as awful, even if prices are well off the peak levels of a few years ago. Meanwhile, mortgage rates have edged lower and there are signs of revival in the housing market in several cities. Properties are selling faster and there’s even talk of
One of the basic rules of selecting investments is that past returns are an imperfect indicator of what’s to come. Housing has been excellent in the past – the average annual increase in the national average resale price the past 10- and 20-year periods is roughly 6 per cent, according to Canadian Real Estate Association data. If a home is your principal residence, that gain is tax-free.