Nearly half of Baby Boomers have no intention of downsizing

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CALGARY — Demand for suburban detached homes remains strong among Baby Boomers, says a survey released Tuesday by Royal LePage Real Estate.

The poll, by Leger Marketing, found that of the 40.6 per cent of Baby Boomers (born between 1947 and 1966), who do have plans to move to another primary residence, almost half (43.5 per cent) are looking to purchase another primary residence that is a similar size or larger than their current property. Of the total responses from Baby Boomers who intend to purchase their next primary residence, 66.8 per cent said they will do so in the next five years.

“Baby Boomers are the wealthiest generation in Canadian history. They live in large homes with ample space for their many possessions. They love their garages and their yards. This study clearly indicates that contrary to popular belief, most Boomers do not intend to downsize anytime soon,” said Phil Soper, chief executive of Royal LePage Real Estate in a statement.

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