Why a home isn’t always the best investment, how renters can get rich, the Home of the Week and more top real estate stories
The article discusses the changing landscape of real estate investment, particularly for older Canadians. It highlights that owning a home is no longer the guaranteed financial success it once was, with prices down significantly from their peak. Additionally, it offers insights on how younger generations can build wealth through renting and investing rather than homeownership.
- ▪Real estate is no longer the investment juggernaut it once was, with prices down around 20 percent from early 2022.
- ▪Many older Canadians are still focused on helping their children buy homes despite the changing market conditions.
- ▪In Kitchener-Waterloo, the average detached home price reached $779,000, reflecting modest growth from a low of $752,000.
Opening excerpt (first ~120 words) tap to expand
Open this photo in gallery:The Home of the Week is a multilevel loft inside an Edwardian-era foundry in Toronto.Birdhouse MediaShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountThis week: Four real estate assumptions that no longer apply, and what the average price gets you in Kitchener-Waterloo. Plus, how to build wealth as a renter and one property worth a look.Take our business and investing news quizOpinionBoomers, you can dial down the urgency on the ‘get my kids a home’ projectOpen this photo in gallery:Real estate isn't the investment juggernaut it once was and older Canadians need to accept that, Rob Carrick writes.Nithirut14/iStockPhoto / Getty ImagesBuying low is the trick to selling high for any investment, but for real estate, that strategy…
Excerpt limited to ~120 words for fair-use compliance. The full article is at The Globe and Mail.
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