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Media Advisory/ Interview OpportunityGingerbread House or Real House?

TORONTO, December 9, 2008 – Nearly 30 per cent of Canadians between the ages of 21 and 34 are living with their parents while saving for a home down payment, according to a BMO Bank of Montreal survey. With holiday giving around the corner, it's the perfect time to help them get into their first home in 2009.

Give the first-time house hunter on your holiday gift list a helping hand with a BMO First Home Essentials kit, a step-by-step guide to help navigate through the home buying process with worksheets, an online tool, advice and discounts.

“The First Home Essentials guide is the perfect stocking stuffer to encourage your grown children to invest in their first property,” said Lynne Kilpatrick, Senior Vice President, BMO Bank of Montreal. “With more than $1,800 in discounts and savings, you're not only helping to motivate and educate the first-time buyer, but also arm them with the knowledge they need to shop for their first home with confidence.”

The kit retails for $24.95 and can be ordered at www.bmo.com/firsthome or by calling 1-866-240-9920. Order today to ensure it arrives in time for the holidays.


The Canadian Housing Market, According to BMO Economics:

  • Housing markets in Atlantic Canada remain resilient, having not experienced the boom seen out West.
  • Newfoundland and Labrador have become the strongest housing market in Canada and are expected to continue performing well.
  • Housing markets in Western Canada have come under intense pressure as falling commodity prices have slowed economic activity.
  • As the cyclical downturn passes and commodities recover, Western Canada will continue to attract investment and population growth, likely returning housing markets to a lead position in Canada.
  • As the economy recovers and affordability improves in the coming years, Central Canadian housing markets will again become attractive.


BMO has experts available to discuss:

  • Tips and advice for first-time home buyers;
  • First Home Essentials, a great holiday gift;
  • Planning for 2009 house hunting.

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