Update on Canadian Real Estate
Updated: Feb 21
On Thursday February 9th, Mario Mota and Neel Aggarwal from The Steele Group, along with Penny Wrightly from The Mortgage Centre Brokerage spoke on current items of interest within Canadian Real Estate. Key topics and questions discussed included:
Impact the past year’s interest rate increases have had on the mortgage / real estate market
Current interest rates and guidance on forward pricing
Title fraud and additional ways to adding protection on top of title insurance
Role life has insurance with a mortgage
Additionally, at the end of the seminar an attendee asked a great question to which we did not have the data at the event. The question was: Can we compare the last 10 years of total return between Canadian Real Estate vs the S&P 500?
Using the MLS Benchmark in the above chart, since 2012 the average house price has gone from $380,000 to $710,000 or 187%. In the same 10 year time period the S&P 500 has grown 293%. Please note that there are periods of time where either real estate or financial markets outperform one another.
As always please do not hesitate to reach out to The Steele Group for any financial planning questions or Penny Wrightly for any credit questions.