While some consider the term ageist, Silver Tsunami is a metaphor dating back to the 1980s, used to describe the increasingly aging population and the ripple effects.
Some even warn or celebrate that the influx brought by the Silver Tsunami as seniors downsize or leave behind what is projected to be 20 million properties in the U.S. by 2037. That’s because the increase of homes on the market will likely depress home prices.
Impact on Canadian market
But, will we see the same shift in Canada?
“Policymakers have known this was coming for about 50 years. So it’s already sort of baked in,” says Mike P. Moffatt, Senior Director, Policy and Innovation at Smart Prosperity Institute, who authored a report last year, saying that Ontario needs to add one million homes over the next decade to keep up with population growth.
Canada already has an ambitious immigration…
