Housing Market: Canada

Benjamin Tal Dept: Benjamin Tal of CIBC put out a report on Thursday in which he argued that Canada's population demographics are working in favour of the country's housing market, according to CBC. But beneath the numbers, Tal sees some reasons for optimism. Although the 55- to 74-year-old age group will see the largest population increase in the next decade, the second-largest will come in the 25-44 group. That's the prime home-buying demographic, with recent research suggesting 18 per cent of that group buys a home in any given year and a large bubble of people in their prime home-buying years, coupled with an influx of immigrants, is poised to support Canada's housing market for the next decade, a major bank economist said Thursday. Canada is facing a well-documented demographic pinch over the coming years, as Baby Boomers retire and seek to cash out their homes to finance their retirement. Experts have gotten increasingly concerned on the impact this boomer bulge will have on the job market and the housing market. (www.immigrantscanada.com). As reported in the news.