Real estate vs. stocks and bonds

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Source: Real estate (since 2000): MSCI/REALPAC Canada Quarterly Property Index (Unfrozen) measuring unlevered total returns of directly held property investments; Stocks: TSX and Standard & Poor's for Canadian and U.S. stocks, respectively. MSCI World Index (ex-U.S.) for international stocks; Bonds: Canada long-bond index total returns as tabled in Canadian Institute of Actuaries Economic Statistics. Chart created by the Author.