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Seniors Are Richer Than Ever & That Won’t Change Soon. Good News For Real Estate In Wasaga beach
Yes You Read That Correctly, Seniors Have “Never Had It So Good”
Contrary to popular opinion and echoing the British Prime Minister Harold Macmillan in 1957, Canadian Business Magazine recently printed a special report on ” Why There Is No Retirement Crisis.”
Consider these facts:
- The incidence of seniors in poverty has improved from around 1 in 3 during the 1950′s to 1 in 10 today.
- Despite being generally healthier and longer living, fewer seniors than ever before are wroking.
- The average after tax income of elderly families in 2008 was $55,900, more than single parent families of working age.
- Seniors income growth has outpaced every other age group for 4 decades.
- Senior couples are now the wealthiest demographic in Canada.
The report concludes that the current crop of retirees is doing well financially and the next one, the “Baby Boomers“, will almost certainly enjoy a comfortable retirement too. The older Boomers represent the most affluent generation of Canadians EVER.
Now it is no secret that Wasaga Beach is a retirement destination. The lifestyle and relatively cheap property prices attract retirees or the soon to retire.
The fact that these seniors arrive with cash is great news for the real estate market. Raised bungalows must make up over 90% of the homes in Wasaga Beach and provide the space without the stairs that seniors enjoy.If you are selling your house remember “Your Grandpa Is Cool With The Internet” and ensure your agent is making full use of the internet to promote your listing.
Smile next time you see a retired couple as that generation helps enormously in keeping the Wasaga Beach real estate market healthy.
[...] market in Wasaga beach is driven by retirees, recreational home buyers and families looking for value who are prepared to commute to [...]