Report suggests nearly half of Canadian Homeowners Intend to buy a property in the next 5 years!

I found this to be an interesting article on the Globalbc website. Could it be that our economy may not be as bad as was first thought? Hmmm?

A new report suggests nearly half of Canadian homeowners intend to buy a property in the next five years, despite a cooling off in the housing market.

A new report suggests nearly half of Canadian homeowners intend to buy a property in the next five years, despite a cooling off in the housing market. AP Photo/Danny Johnston

TORONTO – A new report suggests nearly half of Canadian homeowners intend to buy a property in the next five years, despite a cooling off in the housing market.

The BMO Housing Confidence Report says the 48 per cent figure is mostly unchanged from late 2012, suggesting continued confidence in the housing market.

Among major cities, the report found a five-point gain in buying intentions in Vancouver while Calgary was down by 13 points.

Buying intentions in the Greater Toronto Area and Montreal have held steady, while Atlantic Canada has seen a 15 per cent jump in buying intentions.

The bank`s report further suggests close to half of all homeowners under 40 intend to purchase a larger home within the next five years.

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Will the Election Affect the Real Estate Market?

After an election, I often wonder, ” who was the real winner in this election?”  Oh sure the Liberal government had an amazing come from behind victory in the polls and have earned the right govern our province for the next 4 years, but I have to ask myself, “what will the election do for the real estate market in our province?” 

Will the stability of having the same government in power be good for business and the economy in general or will it be a detriment?  These questions no doubt will be answered here in the next couple years!  Hopefully status quo will be a good thing!

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