According to the Organisation for Economic Co-operation and Development , Canada now has the most expensive housing market among the G7 nations.Sign up to receive daily headline news from the Calgary SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc.
Since that time, however, the number of renters in Canada has increased over three times the rate of homeowners. Interestingly, these renters come in all ages and backgrounds, but especially in baby boomers who live in smaller cities.Article content This trend can be a win-win situation for both renters and owner/investors, considering the current 5.49 per cent mortgage interest rates . Look for great pre-construction deals with closings 2-5 years from now when the interest rate is normalized.Article content
Keep in mind, too, that Millennials are renting for longer periods of time than their parents and grandparents did. Remarkably, though, between 2011 and 2021, baby boomers became the fastest-growing group of renters.Article content
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