Despite the effects of rising interest rates and higher inflation, real estate continues to be regarded as a significant source of wealth creation for Canadians and their families in the medium term, says BMO Private Wealth. Canadian benchmark home prices have risen at an annual average rate of seven per cent in the past 16 years, four times faster than the consumer price index. However, amid growing concerns and questions about uncertainty in the economy and around investments in real estate, this year's ‘BMO Wealth Insights’ provides guidance into how families can maximize their investments in this asset class and support the next generation of homeowners. "Homeownership continues to represent an important financial milestone and source of wealth creation, security, and succession for many Canadians and their families," says Caroline Dabu, head of wealth advisory services at BMO Financial Group. The report explores themes such as gifting properties.
- PWC