Saturday, 10 August 2013

Families shrink and houses "explode".

A lot of existing housing stock is not going to fetch a good price in the future.  Canadian demographics and taste have changed.   Seven kids in seven hundred square feet was common in the forties. Now it's often two childless seniors in two thousand and more.  I see these plans every day in my shop in the Okanagan.   Your grandparents' house will often fit in the Master Bedroom of todays well-off golden agers.   Two en suites,  a jet tub and private patio, a lounge area, tray ceilings, and enough room to chase each other around the bed in flagrante can run to 1200 square feet. Some places of course are much smaller but they are built to an expensive standard.  Where is this heading?

Notice this floor plan has one bedroom only.
As family size stays small, the Canadian housing stock will start to shrink.  People who can afford to buy a home are less likely to pick an existing one, more likely to tear something down and build closer to their heart's desire.

Added:  This reflects the Okanagan Valley which is a retirement haven and has a small industrial base.  New tracts near Markham Ontario and such places may be less obvious.

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