16 Jun

The Canadian rich are getting richer, thanks to their houses

General

Posted by: Eileen Crosbie

We all know that real estate is an EXCELLENT investment. A new report from the Bank of Montreal found that the Canadian rich are getting richer, thanks to their houses.

Some interesting points in this Financial Postarticle:

  • 36% of BMO high net work clients surveyed own a least one second property worth $708,539
  • many of those people are tapping into equity in their primary residence to fund those additional property purchases
  • most of these folks leverage their property and invest the money

Learn more about it here.

A survey released Monday from Bank of Montreal of its high net worth clients, those who have more than $1 million in investible assets, finds their primary residences in Canada are worth almost $1.5 million on average.

Christina Ryan/Postmedia News – A survey released Monday from Bank of Montreal of its high net worth clients, those who have more than $1 million in investible assets, finds their primary residences in Canada are worth almost $1.5 million on average.