Need for senior-friendly housing to grow, CMHC says
A federal report points to the need for senior-friendly housing in Canada over the next few decades.
Canada Mortgage and Housing Corporation says 25 years from now, seniors will represent a-quarter of the Canadian population.
And, CMHC says those seniors will demand a different kind of residence than the detached two-storey houses in which they raised their families.
One major option is condominiums, which accounted for a-third of all housing starts in Canadian urban centres last year.
That's up four percentage points from 2009.
CMHC also says as boomers age, demand will continue for smaller homes and institutional buildings, like old-age facilities.
CMHC also says there'll likely be a lively market for renovators.