Friday, June 14, 2024

The Only Group To Increase Their Share of Canadian Mortgages? Boomers.

Through 2021, there was a lot of talk about younger households buying up real estate. But the Equifax mortgage data for Q3 2021 showed that Millennials maintained their share of mortgages and that seniors increased their share (but have a smaller share of debt).

Households between 45 to 54 years old hold a smaller share of the mortgage market than they did before 2020 (from 26% in Q3 2019, and down to 25% in Q3 2021.

Boomers, though, they are the only demographic to have a larger share of mortgage market. They hold 12% of the mortgage market, which is up one point from 2018.

For more statistic on the Canadian mortgage market and to learn how this shift reflects how older Canadians have viewed real estate recently, be sure to check out the full article at Better Dwelling.

Read more:

Non-Profit, Long-Term Care Provider Planning Smaller, Home-Like Units

Millions of Boomers Are Considering Buying a Home in the Next Five Years

Why More and More Seniors Are Choosing to Enjoy Retirement in an RV

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