Real estate impact likely from $750 billion windfall

Canadian baby boomers are in line to inherit a combined $750 billion over the next decade according to an estimate from CIBC.

Economist Benjamin Tal wrote that the generation that will pass away aged 75 and over will leave more than previous older generations due to the number of them and their greater wealth.

There are 25 per cent more elderly people in Canada now compared to a decade ago. Those over 75 total 2.5 million and this is predicted to grow.

The report suggests that this great wealth held by the older generations exacerbates income equality and impacts many facets including the real estate market.

Those aged between 50 and 75 have already inherited an average $180,000 with those in BC receiving the most, “no doubt due to the elevated value of real estate in the province,” Tal says.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Market update:

Investment Hot Spots:
Badger, Birch Hills, Wapella, Sturgeon Falls, Raleigh

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address


Is a T.O foreign sales tax a good idea?