Canadian Baby Boomers Still Confident About Real Estate Investing

In a recent survey, eight out of every ten baby boomers in Canada, those currently aged 41-61, stated that they are not afraid to purchase property in Canada within the next three years, despite the fall of the real estate market in the neighboring United States. Of those surveyed, approximately twenty percent said that they plan to make a real estate purchase in the next three years and only six percent reported that they would not purchase property because of the volatile real estate market in the U.S.

Canada has approximately 10 million baby boomers, and with nearly 2 million of them saying they are planning to purchase property within the next three years, that is a large show of confidence in the Canadian real estate market.

In addition to the general show of confidence amongst the boomers, an interesting trend of 24% of the younger baby boomers, those between the ages of 41 and 54, and 13% of the older boomers, those between the ages of 55 and 61, said they planned on making a purchase in the next three years. Of those interested in purchasing, 17% of those boomers said they were interested in purchasing real estate for investment, while 15% are interested in downsizing their primary residence.

As day to day living expenses climb all over Canada, many boomers are looking for ways to make additional passive income. The way many are looking to do this is through the investment in rental properties; while others are interested in purchasing property to improve and flip for a quick profit. Flipping property is the art of buying distressed properties for a low price, making improvements and adding some window dressings to them, and selling them quickly for a profit.

The survey goes a long way to showing the resilience of the current Canadian housing market and the confidence in it by the Canadian baby boomers. It is believed that this confidence should continue through the next few years even though the real estate market is currently declining in many markets all over the neighboring United States.