I was listening to the radio the other day and an economist was talking about how he predicts housing will be down over the next decade. The factors he mentioned are the upcoming recession as well as the amount of boomers that are retiring and plan on selling their house and downsizing or moving into some sort of nursing home/assisted living. He mentioned that 40% of the detached homes in Canada and the States are owned by boomers and if you only look at the higher end market the percentage is much higher.
Real estate still seems to be one of the best long term investments though, but if I was in the market to buy anything I'd hold off.
Real estate still seems to be one of the best long term investments though, but if I was in the market to buy anything I'd hold off.