From Baby Boomers to Millennials, Market Optimism Rises as Canadians Across Generations Turn Bullish on Real Estate

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TORONTO, Ontario, March 15, 2023 (GLOBE NEWSWIRE) -- A new generational trends report released today by Mustel Group and Sotheby’s International Realty Canada reveals that an overwhelming majority of urban Canadians across the Baby Boomer, Generation X, Millennial and Generation Z adult demographic remain confident in the long term financial performance of residential real estate. Despite rising interest rates, stubborn inflationary pressures and economic uncertainty, nearly half (49%) of urban Canadians ages 18–77 believe that a residential real estate purchase will perform the same or better than their other financial investments in the next 12 months, while a resounding 60% believe it will perform the same or better than their financial investments in the next 10 years. In fact, over one-third (35%) report that they are even more likely to purchase a primary residence in the next five years than they were in January 2020 before the advent of the pandemic, while one-third (35%) of those who already own a primary home report that they are now more likely to sell within the next five years compared to their intentions pre-pandemic.