The report compares the confidence levels of Baby Boomers, Generation X, Millennials, and Generation Z adults as it relates to current housing market trends. The data is based on a survey of 2,000 Canadians ages 18-77 in the Vancouver, Calgary, Toronto, and Montreal Census Metropolitan Areas.
Thirty-six per cent of those in Toronto between the ages of 18-77 report that they are now more likely to purchase a home in the next five years compared to their intentions to do so pre-lockdowns. Looking at Canada as a whole, nearly half of respondents ages 18-77 said they believe that a residential real estate purchase will perform the same or better than their other financial investments in the next year.
The report reinforces the notion that"confidence in the country's real estate market remains resilient despite recent shifts in market conditions," said Josh O'Neill, General Manager of Mustel Group.
Bounce back? Avg income for a person to a house is 150K per annum. If it bounce back, the everyone shud make 200k to buy a house
Hope or afraid
I hope it crashes... Only chance for me to own a house
It’s going to head back to bidding wars. Immigration is going to be pouring in and “the supply” isn’t there. Lots of $$ is coming into 🇨🇦 from abroad.
Nope.
Yes thise multi $M houses were starting to be too affordable.
I'm hoping it drops another 10%.
The wealthy 1% and greedy landlords/developers are not most people. Most people actually want to see the real estate market and rental market pricing decline at a much faster rate. Time for a rewrite
Because you can not build more land and Toronto continues to be a hot spot as immigration destination.
After countless articles decrying the skyrocketing costs of rent and housing in Toronto this is a pretty tone deaf article.
Dump it more!
This article is such weird nonsense. It's mostly about buyers, why would they want the market to 'rebound' and prices to skyrocket again. It's because the market is trending downwards that buyers are more optimistic. Logic slips by BlogTO once again.
Once the new immigration starts pouring in, the prices will skyrocket again. The supply isn’t there.
nationalize housing
It will when rates fall. Inevitable
You mean sellers are hopeful new buyers will magically appear with a million dollars for their shitty shoe boxes ?
Most people? The 1% don’t count! Neither do landlords! EAT THE RICH!