Eight out of 10 Canadian baby boomers state they are not hesitant to consider a real estate purchase despite U.S. housing market volatility, according to a new online survey by Angus Reid Strategies on behalf of Mortgage Intelligence Inc.
According the to the survey, 21% of Canadian baby boomers plan to make a real estate purchase in the next three years.
“Canadian boomers are a savvy bunch, and our survey indicates that despite the turmoil in the U.S., they clearly understand the long-term value of real estate,” says John Schipper, president, Mortgage Intelligence Inc. “With approximately 2 million boomers planning to buy a home within the next three years, this segment will be a major driver of the Canadian real estate market.”
Results from two polls commissioned by Mortgage Intelligence, a leading Canadian mortgage brokerage, shed light on some interesting Canadian baby boomer real estate trends:
- 24% of younger boomers (between the ages of 41 and 54) are more likely to have plans to purchase real estate in the next three years versus 13% of older boomers (between the ages of 55 and 61).
- 17% of those interested in purchasing real estate are most interested in investment properties, followed by 15% who want to downsize.
The first poll was conducted by Angus Reid Strategies on September 25, among a representative sample of 490 Canadian boomers.
The second poll was conducted by Corporate Research Associates Inc. in a nationwide study of 1,000 baby boomers across Canada between August 10 to September 4.