26th Jan,2022 "A new real estate report says Canada’s record-low supply of real estate is being compounded by an emerging trend: Baby Boomers who won’t let go of their homes."
"More than 20 per cent of Canada’s population will be 65 within the next five years.
Many Boomers are still working and they are healthier than previous generations, so they aren’t yet ready to move into retirement communities or nursing homes."
Media has become an annoying "Blame the Boomer" joke in covid times.
It appears they may be suggesting that Boomers should voluntarily go into retirement & nursing homes
so that the homes they independently live in ... can be "freed up".
Maybe a new "Big Brother" reality TV show is next - where a group of Boomers go into a house and
each week, one is voted out - and goes into a nursing home.
Yet we cannot find another report where retirement & nursing homes have high vacancy rates.
(with monthly costs that can quickly absorb the funds from selling one's home - I might add)
There is a large-part reason why housing costs are high ... "free/cheap money" and "low cost of borrowing"
where we see that resale over-bidding is not being scrutinized.
Wait until these younger home owners realize the sustaining costs of owning their home ...
no doubt that this will be a subsequent "Blame the Boomer" report in the media.