The three-bedroom house at the end of the cul-de-sac sits quiet now, its last family dinner long forgotten. Inside, a retired couple weighs the cost—not just dollars and cents, but memories and roots—of moving on. Across town, a young couple scans online listings, hope and frustration in equal measure. The keys never change hands. The story is quietly repeated on streets from Barrie to Vancouver.
For first-time homebuyers, the Canadian dream has drifted out of reach. The reasons are many, but one subtle driver rarely makes headlines: the staying power of senior homeowners. Downsizing, once painted as a natural rite of passage, proves more myth than mass movement. According to the 2016 census, Canadians over 75 are the least likely demographic to budge, holding steadfast to beloved spaces even as grown children scatter.
Why do these moves rarely materialize? The answer is tangled. Experts like realtor Barry Lebow have seen it firsthand: moving means confronting a lifetime of belongings, navigating emotional minefields, and enduring costs that climb with every kilometre. The market, meanwhile, offers little in the way of tempting alternatives. Many seniors crave continuity—familiar streets, gardens, and the comfort of neighbours. Compact condos or rentals, often built far from established communities, simply don’t entice.
The effects ripple outward. When seniors stay put, the supply of larger homes stalls. Aspiring families find themselves stuck, priced out, or pushed further from city centres. The so-called ladder of housing creaks under the weight of inertia. Attempts to grease the gears—like GST rebates for new homebuyers—rarely extend to the elderly, leaving the status quo undisturbed. As Mike Moffatt of the University of Ottawa observes, truly effective solutions would mean making new housing options just as appealing, affordable, and accessible to those with deep roots.
The myth of seniors downsizing en masse has blinded policymakers to the emotional and practical barricades these homeowners face. The housing market is a chain, and as long as one link stays locked, the next generation of buyers waits on the doorstep, keys in hand.
References:
Seniors rarely downsize. Here’s why it hurts first-time homebuyers
