Real Estate

Too much wealth tied up in real estate can hurt your retirement, report suggests

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Houses on a hill in Vancouver, on Nov. 23. Near-retirees are too dependent on their houses for wealth, according to a report from Deloitte Canada.DARRYL DYCK/The Canadian Press

Canadians heading into retirement are in a great position, said no one ever.

But even by this usual standard of negativity, a new report on retirement by Deloitte Canada is a stunner. It says that 55 per cent of people aged 55 to 64, about 1.7 million individuals, will have to make lifestyle compromises to have a comfortable retirement. Near-retirees are too dependent on their houses for wealth, they invest too conservatively and they don’t have access to the advice and investing products they need.

The Deloitte reports includes some suggested remedies, including more options for people tap into their home equity to finance retirement. But the takeaway for people retiring in the next few years

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Real Estate

Survey suggests urban Canadians remain optimistic about real estate

A new survey suggests that despite high interest rates and an uncertain economy, confidence in real estate as an investment remains high among Canadians who live in large cities.

The new report was conducted by research firm Mustel Group for Sotheby’s International Realty Canada and surveyed 2,000 Canadian adults between the ages of 18 and 77 in the Vancouver, Calgary, Toronto and Montreal Census Metropolitan Areas (CMAs). 

It found a high level of confidence in future real estate performance, with 60 per cent of respondents believing that a home or residential real estate purchase will perform the same or better than their other financial investments over the next 10 years.

While that figure reflects optimism about the market in the long term, the survey also found that almost half of respondents (49 per cent) believe that a home or residential real estate purchase will perform the same or better than

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