Will There Be a Lack of Buyers for Boomer’s Homes as they Retire and Downsize, Causing A Downward Spiral in Real Estate Values?: expert disagrees, so long as current immigration rates are maintained
“Don Lawby, chief executive of Century 21 Canada, has heard warnings about a lack of buyers for Boomer homes before. “I don’t buy it; I think it’s just talk,” he says.
For starters, he says, there is little indication immigration is going to slow and, increasingly in places like the Vancouver area, where he resides, immigrants have more money to buy the single-family homes of the Boomers.
‘I think single-family detached are becoming a bit of a luxury,” says Mr. Lawby. But he says even townhouses and condos will continue to rise in price because of rising land costs. “They are not making any more land.’ (Financial Post, October 31, 2012)
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