Seniors decision to downsize, or age in place could have ripple effects
As baby boomers age, they are leaving their mark on employment, healthcare and now the housing market.
Seniors or people who are 65 and older were a quarter of Canadian homeowners in 2016. The figure at the time was already up by 5 per cent from 2006. This trend is also expected to continue, a study from commercial real estate services company, CBRE shows.
Some of these senior citizens are already living in areas already riddled with housing shortages and exuberant home prices who have yet to downsize to smaller homes. The pandemic…