Canadian boomer resilience: 84% not scared off real estate despite U.S. housing downturn



    21% of Canadian baby boomers plan to make a real estate purchase in
    the next three years, according to a recent Mortgage Intelligence survey

    TORONTO, Oct. 23 /CNW/ - Eight out of ten (84%) Canadian baby boomers,
aged 41-61, state they are not hesitant to consider a real estate purchase
despite U.S. housing market volatility, according to a new online survey by
Angus Reid Strategies on behalf of Mortgage Intelligence Inc. In fact, 21% of
boomers surveyed anticipate making a real estate purchase in the next three
years; 63% are not apprehensive about Canadian real estate, but have no plans
to purchase within three years; 6% are not considering a Canadian real estate
purchase because of the U.S. housing decline; and 10% do not know how they
feel about Canadian real estate.
    "Canadian boomers are a savvy bunch, and our survey indicates that
despite the turmoil in the U.S., they clearly understand the long-term value
of real estate," said John Schipper, President, Mortgage Intelligence Inc.
"With approximately two million boomers planning to buy a home within the next
three years, this segment will be a major driver of the Canadian real estate
market."
    Results from two polls commissioned by Mortgage Intelligence, a leading
Canadian mortgage brokerage, shed light on some interesting Canadian baby
boomer real estate trends:

    
        -  24% of younger boomers (between the ages of 41 and 54) are more
           likely to have plans to purchase real estate in the next three
           years versus 13% of older boomers (between the ages of 55 and 61).
           (Angus Reid Strategies).
        -  17% of those interested in purchasing real estate are most
           interested in investment properties, followed by 15% who want to
           downsize. (Corporate Research Associates).
    

    More younger boomers are looking for out-of-the box solutions for
generating additional disposable income, including real estate investments
observes Barry LaValley, founder and president of the Retirement Lifestyle
Centre and Special Advisor to the Scotiabank Group." A sub-element of the
investment real estate boom is the 'tear down' property market. Boomers are
seeking out inexpensive properties that can be dressed up and resold for a
profit," said LaValley.
    "Real estate clearly remains an important investment strategy for boomers
as they plan for their retirement years," said Schipper. "Every day, our
mortgage consultants work closely with these clients to offer consultative
service, knowledgeable advice and flexible mortgage solutions to meet their
changing lifestyles."

    About the survey

    The first poll was conducted by Angus Reid Strategies on September 25,
2007 among a representative sample of 490 Canadian boomers. The results are
based on two-sided tests with significance level 0.05. The second poll was
conducted by Corporate Research Associates Inc. in a nationwide study of 1,000
baby boomers across Canada between August 10 to September 4, 2007. An overall
sample of 1,000 drawn from the population would expect to provide results
accurate to within plus or minus 3.1 percentage points 19 times out of 20.

    About Mortgage Intelligence Inc.

    Mortgage Intelligence Inc. is among the largest and fastest growing
mortgage brokers in Canada, with more than 1,000 independent consultants and
associates in offices across Canada. Mortgage Intelligence consultants help
clients make better mortgage decisions for their home, revenue or vacation
properties, renewals, home renovations, debt consolidation needs, and
specialized mortgage requirements. The company had funded volumes in excess of
$7.8 billion in fiscal year 2006. For more information, visit:
www.mortgageintelligence.ca.





For further information:

For further information: Jason Graham, Argyle Communications, (416)
968-7311, ext 229, jgraham@argylecommunications.com; Dawn Erceg, Director of
Marketing, Mortgage Intelligence Inc, (416) 234-3170

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MORTGAGE INTELLIGENCE INC.

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