According to a recent study by the major Canadian banks, Canadians are staying in their principal residences much longer in years and one of the fastest growing demographics for home purchasers is the 65 to 72 year old demographic. According to the study 70% of all Canadians at 75 years old are still living in their principal residence. This goes against the prediction of a best selling book back in 1996 entitled "Boom Bust Echo". This book predicted that aging baby boomers would all at once start selling these large homes in the suburbs to downsize, thus causing a glut in the market and prices to plummet.
This entry was posted on May 6th, 2013 by Owen Bigland | Posted in Video Blog