Baby Boomers: Aging Population

Demographer Dept: There s this idea that when the kids leave home, boomers will downsize, said demographer David Foot, author of the influential book Boom, Bust a Echo and professor emeritus of economics at the University of Toronto. Well, that doesn t happen. You hold on to the family house, probably into your 70s because you want grandkids to come and visit. , according to Globe and Mail. He starts with the observation that an aging population suggests slower economic growth. We ve already seen GDP growth steadily declining from 5 per cent in the 1950s and 60s to 2 per cent more recently and this could be one of the most important questions that baby boomers deal with as they enter retirement, and the financial impact will be widely felt. Expect a slowing in today s hyperactive housing market, but not right away. So figure on having about 10 years before a downsizing bulge alters the balance of sellers and buyers in our housing market. Should retiring baby boomers wait that long? Mr. Foot s analysis certainly doesn t suggest a bright future for house prices. (www.immigrantscanada.com). As reported in the news.