News Releases
- Digital publication outlines meaningful considerations to optimize investments in real estate and support next generation of homeowners
TORONTO, Nov. 3, 2022 /CNW/ - BMO Private Wealth has published the latest edition of its annual digital publication that provides comprehensive wealth, tax and estate planning considerations for Canadians navigating the opportunities and complexities of investing in real estate, following new measures outlined in 2022 Federal Budget and changes in the economic landscape.
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. Canadian benchmark home prices have risen at an annual average rate of 7 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," said Caroline Dabu, Head, Wealth Advisory Services, BMO Financial Group. "While evolving housing affordability programs and economic conditions may affect the present paths to home ownership, BMO Wealth Insights and the bank's team of experts are available to offer valuable advice for Canadians looking to invest in real estate for the first time, make progress in growing their portfolios or help the next generation get started on their home ownership journey."
"No doubt, the housing market faces a challenging period ahead due to affordability issues and a weakening economy," said Sal Guatieri, Senior Economist, BMO Capital Markets. "However, once prices return to more sustainable levels, the market should resume an upward course on the back of strong immigration and population growth."
BMO Wealth Insights explores timely topics for Canadians interested in investing in real estate such as:
- Canada's Real Estate Market: 5 Things You Need to Know
- Federal Budget 2022: 8 Measures That Can Make Real Estate More Affordable
- All in the Family: A Primer on Gifting Property
- Podcast: Perspectives on Canadian Real Estate
To learn more about BMO Wealth Insights, please visit privatewealth-insights.bmo.com.
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $1.07 trillion as of July 31, 2022, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
SOURCE BMO Financial Group
