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Baby Boomers – No Plans to Downsize

by admin on May 24, 2013

A recent study shows that nearly half of the baby boomers from 1947-1966 are planning to move from their current residence to another of equal or larger size than their current home.

With this happening, smaller, single-sized family homes are creating an over-supply.

This study also involves more than half of Generation Y. They have their mind on the suburbs and a quarter of them plan on moving right into downtown Toronto.

The baby boomers are considered to be one of the wealthiest generations in Canadian history. They love their yard space, garages and big kitchens which is why they are not yet considering downsizing.

One of the main reasons they want to live in larger homes is because of their children. Their children haven’t moved out and they need space to house them. Their kids are having a hard time finding a well paying job and they are taking all the support they can get by living at their parents home.

All and all, baby boomers are not downsizing any time soon.

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