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  • Home Adaptations for the Elderly Aug. 24th 2019
    Growing old can mean everyday tasks become more difficult, and if your mobility is impaired you may find yourself more at risk of falling. Falling is one of the biggest dangers, resulting in high numbers of emergency hospital admissions, and as many as 5,000 people a year will die shortly after falling. According to Live-in Care Hub, there are 75% fewer falls and fractures when you can be cared for in your own home, compared to moving into a residential facility. So making use of services like companion care along with home modifications can improve your safety and mobility around your home, as we will discuss below. General considerations Cluttered rooms can be difficult to navigate with walking aids, leading to trips or attempts to move around without assistance. If you need to use a stick or Zimmer frame in your home make sure you reduce the amount of furniture to allow ease of movement. Consider where your aid will be stored when you are relaxing in your favourite chair too – you may want to rearrange seating to keep it within arms reach. Rugs can be another trip hazard so are best removed. If you have been diagnosed with dementia you may begin to see rugs and similar changes in floor texture differently, as holes or gaps, leading to stumbling. In the bathroom If you find it difficult to get into the bath then grab rails can give you something to hold onto. Non-slip matting on the bottom of the bath will also help you as you stand up. Avoid bathing unless there is a relative or home care assistant present. You may prefer to get rid of the bath entirely and replace it with a walk-in shower. This has the advantage that you will be able to use it independently for longer. Grab rails for stability and a plastic shower stool can be helpful. A thermostatic unit is best to avoid scalding, or fit a system-wide thermostat to keep the hot water temperature to a safe level. Toilets can often be too low for comfort. Adapters can be fitted to raise the height of the seat. If you find flushing it difficult then talk to a plumber about fitting a different flush mechanism. In the bedroom If you struggle to get out of bed, but don’t want to replace it, you can fit raisers which increase the height of the mattress. Make sure that your bedside table is easy to reach once you are in bed and that you can turn a light on easily. In the kitchen There are many gadgets to make cooking and preparing food safer. If funds allow, then refitting the kitchen with a high-level oven and microwave and easy to open cupboards and drawers is a good move. Smaller improvements could include fitting a tipper stand to your kettle, buying an electric tin opener or specialised gripper chopping boards. Talking scales and big scale measuring jugs can help if you find reading difficult but still wish to cook.

  • 4 Upgrades for Your Home Office Aug. 24th 2019
    Whether you’ve just moved into your home, or you lived there for years now, you might be looking to improve your home office. Your home office is where you can focus without distractions and work in an environment where you feel comfortable. To help you achieve the perfect aesthetic for your home office, here are some ideal updates that you can make that will help you focus, and stay on task for as long as you need to. 1. Natural Lighting One of the most important things that you can do for your home office is to have natural lighting. Natural lighting helps people to stay more focused and is easier on the eyes than artificial lighting. Artificial lighting has a tendency to fatigue the eyes fast and can even cause headaches for some people. Natural lighting has the opposite effect. It helps you to stay alert and focused for as long as you need to since it regulates your natural circadian sleep cycle. If you want to focus in your home office and get the most out of your work day, the very first thing that you should do is enhance the amount of natural lighting that you get in your home office. If you’re currently looking for a home, find one that has large windows in one of the smaller rooms (a room that you’ll likely turn into a work office). If you already have your office set up, pull the blinds away from the windows and allow the sunlight to stream into the room all day long. 2. Clear Up Space The last thing that you would want to do in your home office is put so much stuff in the room that you feel cramped. Clutter is the notorious creative jammer. It’s hard to focus when the office is messy, disorganized, or it just feels “full.” To avoid this feeling, make sure that your office is clean and clutter-free. Don’t use it as a storage closet. In fact, move everything out of the office so it’s nearly impossible for it to get full of clutter. You want the room to feel open, like you could lie down on the carpet and stretch in the middle of the workday if you felt like it. The carpet should be clean and free of junk, the windows washed, and the desk wiped down before you sit down for the day. 3. Set Up Mobile Printing You might want to set up mobile printing to avoid any extra equipment in the office space and to help you better access and organize your home office. Mobile printing is one of the easiest things to set up and it can help you to organize your materials, create a breathable workplace, and allow you to have access to your work through the ease of your phone. If you’re on the go and need to quickly print something from work, you can simply connect to the nearest printer through your phone and print the material. 4. Get a Real Chair There are a wide variety of office chairs. If you’re cheap, you might have settled for a small chair with no cushions. A chair like that makes it nearly impossible to sit for more than 15 minutes in the same spot without you starting to feel a cramp in your back. A small, simple chair is not what you should have in your home office. You should have something that cradles your nerves that doesn’t force the weight of your entire upper body to sit on your lower spine. Some of the best chairs for this are “gamer chairs.” These chairs are designed for people who sit on the computer all day. They are cushioned and are flexible. They also fit nearly every body type to make sure that you’re going to be comfortable no matter what stage of life you are in. Conclusion There are a lot of options for changing your home office. However, only a few are going to be right for you. If you focus better when the room feels like it’s outdoors and there’s a fragrant smell of flowers in the air, then add that to your room. Fill the walls with hanging plants to help you focus. Or, if you focus best with an absolutely bare room, then only have a desk. If you’re into aromatherapy, pick the scent that makes you perk up in the morning. The great thing about having a home office is that you can customize it to fit your needs.  

  • How to Calculate Your Average Moving Costs Aug. 22nd 2019
    According to a Dallas moving company, moving can be one of the most joyous and stressful things that you take part in. You are either one of those types of people who love being in a new place and redecorating spaces. Or, you utterly despise the moving process and avoid doing it as much as possible. Moving is not just about packing up all your belongings and choosing the right place to live. It’s also about budgeting and ensuring you are prepared to handle all the costs surrounding your move. So, what are the cost factors that you need to analyze while you are making a move? Location – Local Research conducted by Zillow states that about 57% of those who sell their house to move are moving locally. And an estimated 86% of movers relocate within their current state. You should take into account the size of your home when you begin calculating your moving costs. • A one bedroom apartment will take about 3 to 5 hours to move and cost $200-$500• A two bedroom apartment will take about 5 to 7 hours to move and cost $400-$700• A three bedroom house will take about 7 to 10 hours to move and cost $560-$1,000• A four bedroom house will take over ten hours to move and cost $800-$2,000 When we calculate these prices, we are talking about hiring movers to assist you in your move, because, honestly; doing it on your own is a virtually impossible feat. Location – Long Distance When you’re packing up for a long distance move, pricing will be on the higher side of the equation. If you need to cross state lines, for example, it’s essential to factor in that you will accumulate costs for gas and labor. When working with a professional and reputable moving company, they will devise an agreement that outlines the cost, breaking down all the essentials, so you can get a full picture of where your dollars are being used. Do It Yourself You might be thinking that you don’t want to hire a moving company, as you’re tight on cash; so you’ve elected to make a move yourself. You could ask all of your friends with big cars to help, but keep in mind if a moving truck is something that you want to invest in, it’s about $20 a day. Minimum Options You can ask for just a loading and transportation service, where you pack everything up and purely have professionals come in to do the heavy lifting. This can cost anywhere from $200 to $2,000 depending on the number of belongings you have. Storage What if you need to move out by a specific date, but your new home won’t be available right away? This means you will have to factor in a storage unit, which could range anywhere from $50 to $400 a month. Moving is certainly not the most blissful activity, but you are hopefully moving because you are upgrading your living situation. So, be sure to factor everything in beforehand!

  • Developing Real Estate by Realizing Health and Wellness Aug. 22nd 2019
    To develop real estate is to realize an idea, to strive toward an ideal. Be it breaking land or building houses, be it housing the homeless or helping families turn houses into homes, be it creating a community for families or strengthening a family of communities, the real estate developer is a person of a vision.  A man of resilience, a woman of courage, a real estate developer sees opportunities. He or she seizes the opportunity to personalize the skyline—to beautify the coastline, too—through construction. Nowhere is this rule more obvious than in the world of health and wellness. Nowhere is the choice more clear, the cause more critical, the concern more comprehensive than the one real estate agents and developers face right now. To build centers for recovery, to emulate the example of the best buildings on behalf of recovery, to inspire patients by drawing inspiration from buildings that further recovery, all of these things depend on real estate developers who invest in recovery. Thanks to my conversations with developers and doctors, in addition to my correspondence with the experts at Clear Sky Recovery, I have a better understanding of how one industry can better another. Or: Wellness is as much a state of mind as it is a statement of fact about how to live, during and after recovery. The benefits of recovery are both fiscal and physical, and metaphysical too. That is to say, the benefits reveal themselves in every city and hamlet, in every state and every city. The benefits also reveal themselves in a rise in jobs, and a raise for all through razing the landscape—by ridding the land—of buildings too dangerous to enter, too costly to maintain, and too wasteful to ignore. The benefits reflect a happier and more productive workforce, of workers producing goods and services that serve the greater good of forming a more perfect Union, to promote the general Welfare and secure the Blessings of Liberty. Development is, then, impossible without recovery.  In this context, the real estate developer is an icon. He represents, she symbolizes what is iconic. The library, the museum, the schoolhouse, the park, the playground, the church, the temple, the center, the sanctuary—icons, all of them. In the words of another icon, Winston Churchill: “We shape our buildings; thereafter they shape us.” The developer has the power to shape the health of much more than the real estate market. He has the ability to shape the future. She has the means to ensure the future looks like what it should be, better. The future of recovery begins with seeking a lasting recovery. A recovery among the states. A national recovery. Achieving this recovery is an act of discipline.  To discipline ourselves for the good of one industry, the real estate industry, is to be more industrious in general. To see the results of recovery is to know what recovery can be; what it must be, so the best within us may endure.

  • How Technology Can Give You the Edge in Real Estate & Mortgages Aug. 21st 2019
    Technology touches every part of our lives, and there is virtually no industry that hasn't been touched by changes in technology the last 20 or 30 years. Real estate is no exception, and that goes for both sides of the transaction! From how a buyer can shop for mortgages to seeing how real estate is researched, bought, and sold on the realtor side. This offers more options than ever for finding the best deal on the best property for your specific needs, but it can also be a touch intimidating for people who haven't been through this process before. However understanding how technology is used for mortgages and real estate on all sides can help individuals to better understand their options better and understand how technology is going to affect each and every decision we make in the future. The Changing Landscape of Getting a Realtor There are major corporations who specialize in connecting sellers with a realtor. One of the largest sites along this line is Redfin, but there are literally hundreds of companies who use a similar model of online setup. Most of these companies talk about setting up sellers with local realtors, but a lot of them are a commission based model that involves referrals. While this opens up the options, these companies online aren't always completely transparent about how this works or that the realtors getting these leads often pay for them. While this can work out in some situations, really good realtors often don't need to pay for leads through a 3rd party company which means often times those buyers and sellers who are going through a company like that often get sub-par realtors who really aren't the cream of the crop. There always are exceptions, but in general this is going to be true in most cases and when dealing with most transactions. Then there's the trust factor. There's nothing like meeting with a person face to face to get a basic impression of them and a read in order to trust your gut instinct on whether you like the individual, trust them, or feel like they are trustworthy or not. That face to face meeting can tell a lot and visiting multiple potential realtors can feel intimidating but those meetings can give a lot of first hand information that simply isn't available from online interactions or transactions. Digital Mortgage Applications At the moment there is no online mortgage application that is 100% online but many banks and lending companies have started with pre-qualification options online to give potential buyers an idea of whether or not they will qualify, how much they are likely to qualify for, and what types of terms to expect. This can be a very useful tool to help individuals decide whether it is a good time to press forward, whether they need to spend more time fixing up their credit, and understanding what the viable price range is for them to look at. This is all important information that because of the way technology is being used, is much more available than it has been before. These are still estimates, but especially if a potential buyer is working in person with the same bank or lender whose tools they are using online then this can help to expedite the process for both sides.   Current & Future Benefits to Mortgage Brokers & Realtors One of the major benefits that technology is giving both sides is to make the process easier. Instead of having to make multiple hard copies of documents like employment history, credit scores, recommendations, the ability to have all of these in file form that then can be uploaded online where they can be grabbed over and over to put on an online application makes it easier to always have those available so a few clicks attaches the document and the online portion can be sent in. There is no question that drastically cuts down on time and expense of the process. Making things easier is never a bad thing, and considering it is the same documents needed for each potential lender, it only makes sense to have a setup like this which makes things run more smoothly and makes those documents easily available for the multiple potential applications. While it's hard to say where technology will take the mortgage market in the future, it is definitely reasonable to assume that as more things become streamlined and more services continue to be offered online that even more of the process will be made available online and more of it will be automated. While this can seem scary in some ways, it also has the potential to make sure that buyers have more of a handle than ever on how the process works, what their options are, and they can leverage that information to get a better deal with making the process easier on a realtor to get a property bought or sold. That is the ideal win-win situation for all involved.   This article was submittied by Eitan Pinsky of Pinsky Mortgages in Vancouver, BC. Check out his original article here.  

  • Startup 'Rent the Backyard' Is Here to Make You Some Money and Solve the Affordability Issue Aug. 21st 2019
    Your backyard. It’s just sitting there. Doing nothing. Sooooo lazy. Wouldn’t you love a backyard that actually did something? How about one that can make money for you? That’s the idea behind Rent the Backyard. Or, part of the idea anyway. The other, much more important part is how this new company can help address a lack of affordability in the real estate market, especially since the company is located in the Bay Area, home to some of the most expensive real estate in the world.  Here’s the deal.  Rent the Backyard partners with companies to build prefab studio homes for free on unused land. Specifically, your unused land. If you have at least a 30-by-30 space to spare and you live in the Bay Area, you could be a candidate.  “They’re partnering with companies like NODE, who make sustainable, carbon-neutral homes that can be installed in just a few days,” said Dwell. “Utilities will hook up to the property's principal dwelling, and they'll be metered and reimbursed. Participants can expect to add roughly $10k to their annual income (dependent on the going rate for a studio apartment in your city), and cities will get new affordable housing in previously unused space.”  About that “for free” part Yes, there’s no upfront cost to customers. No. Upfront. Cost.  And once the prefab studio apartment is built and rented—They also find tenant to rent the unit!—the company splits the profits with you. Sure, you could go out and build your own tiny house, but are you really game for that? Think of all the hassle. Just the thought of dealing with permits makes us want to run. Did we mention that Rent the Backyard takes care of all the permits, too? Rent the Backyard estimates that homeowners can make between $10,000–$20,000 in added income per year with a unit in their backyard, depending on the unit, the location of the home, and a few other factors.  The one downside: It’s only happening in the Bay Area. Co-founder Spencer Burleigh told us they are “really focused on the Bay Area right now and have no immediate plans to expand beyond the Bay Area.”   

  • Why This Might Be the Time to Buy a Condo Aug. 20th 2019
    Is a condo in the cards for you? Or have you crossed it off your list because it’s too hard to get a decent loan? We have some good news.  New guidelines from the Federal Housing Administration (FHA) means more homebuyers may be eligible for a government-backed mortgage. That could mean a lower down payment and easier qualifying than what is required for conventional loans for condos.  “The federal agency released new guidelines Wednesday for the types of mortgages it will insure at condominiums,” said the Los Angeles Times. “Just 6.5% of the 150,000 condominium developments in the United States were previously eligible for FHA-backed mortgages. But the FHA will start backing mortgages for individual units and will have greater flexibility to react to changes in market conditions.” According to the National Association of Realtors (NAR), “The changes, many of which NAR has championed for over a decade, should yield thousands of new homeownership opportunities and help alleviate affordability restraints impacting markets across the country.” Condos are often a more affordable option than single-family homes, which is what can make them so attractive to first-time buyers. The low-maintenance level is also an important factor. Because condos typically have homeowner’s associations (HOA), front-yard maintenance is usually taken care of, and there are generally no yards to worry about.  Some homebuyers look at HOAs as a negative because of what they consider to be strict rules governing what they can and can’t do, and also because of the fees. But, the truth is that most master-planned communities today have HOAs, which means the same rules and fees will apply.  “HOA fees typically can range from about $200 to $300 a month; other factors may contribute to how much the fee will be, like your location, unit size and available amenities,” said Magnify Money. Monthly condo association fees can go as high as $700 or more, also depending on the amenities and services provided.” You’ll definitely want to do a strict comparison between any condo you’re considering and a single-family home. It may turn out that you can get more for your money with a home that’s not in a planned community and therefore doesn’t have fees. Or, the converse may be true. Even with HOA fees, a condo may be the better buy simply from an affordability standpoint, but also because it's newer, has more space, or is in a better location.   

  • Why You Should Replace Your Roof Before Selling Your Home Aug. 20th 2019
    Are you thinking about putting your home on the market for sale? It doesn't matter if you've been living there for 50 years or five. You want to do everything you can to get the most from your initial investment. Find out why a residential roof replacement is one thing to consider to help get the most out of your house that's for sale. New roof installation will help with the selling of your home for several reasons. You can increase the asking price, prevent potential buyers from trying to bargain with you, sell your home faster by improving the overall appearance, and avoid negotiation issues with lending companies. Increase Your Asking Price After a Roof Replacement You might have a price point in mind for your home based on what you paid for it, the work you've done already, and what it's worth to you. That number can be increased significantly if you add a roof replacement to the work you do before you put a for sale sign out in front of your property. Even though you're going to be spending the money initially on what a complete residential roof replacement costs, you will get all of that back. You can even add on extra because you took the time to have it completed. As soon as you mention "new roof" on the features your home has in the realtor sales listing, people will automatically be more attracted to it. It's one of the top factors that potential home buyers look at when deciding what house they want to settle on as their permanent residence.  If you have ever looked at buying a new home yourself, you know that when you see houses that have roofs that are ten years or older, you aren't going to be willing to pay top dollar. Anyone that has done their research knows that the age of the roof has a huge impact on the price a seller can put on their property. A new roof allows you to keep the price point a bit higher so you can get the most out of your investment.  Save Time on Dealing With Roof Repair Negotiations from Buyers It's human nature to try and get something for less than the asking price, especially when it comes time to purchase a new home. It's not just a couple of hundred dollars that buyers bid below what they see listed either.  They will often look for features of the home like the age of the roof and try to take thousands off the asking price.  You put the value on your home, taking into consideration the age of the roof, but that's not how outsiders view it. A new roof installation is a big job and a significant investment. Buyers know when they are looking at buying a home with a roof that is ten years or older, they have some work ahead of them. That additional effort they will have to put in allows for a bit of wiggle room. You put the value on your home, taking into consideration the age of the roof, but that's not how outsiders view it. Taking the time and spending the money to put a brand new roof on your home for sale is going to save a lot of time and headache.  The people looking at your home won't be able to use the age of the roof as a reason for you to lower what you want when the sale is final. If you're in a hurry to get your home sold as quickly as possible, asphalt roof installation will shave a decent amount of time off the whole process. Speed Up the Sale Process with a Beautiful New Roof There isn't much need to look at your roof on a routine basis and inspecting it for damages only happens a couple of times a year. However, when people are considering the purchase of their dream home, the roof is one of the first features that gets investigated. Nobody wants to move in and discover that there are holes or leaks in what they thought was their ideal forever home. If a person sees an older roof, they are more likely to skip over the house as an option. People don't want to have to put major improvements into a home they're just moving into. For most, new homeowners want to be able to pull the moving truck up, unload their things, and sit and enjoy everything they just committed to with the purchase of a house. With a brand new residential roof installation in your area, the people that are simply driving by are going to see that you took the time to have the work done. They will slow down and want to take a closer look because you've taken care of the exterior. Inquiring minds will want to see the interior. The more that people are stopping to explore your property, the quicker you're going to get the final offer settled. Keep Lending Companies Satisfied with Adequate Roof Repairs You might not care about the age of your roof when you have your house up for sale. You're ultimately not going to be living there anymore, so why worry about it. You may even get lucky and find a DIY buyer that has no issue with doing their own roof repairs. That all sounds great until you get to the point in the home buying process when the bank or mortgage company comes to do their own inspection of the property.  This is especially true in colder climates where often hail damage has a huge impact on roof degradation. For example, this last winter, there were record numbers of roof repair in Fort Collins due to consistent hail storms and the damage thereafter.  When they see that residential roof repairs are required, they might refuse to approve the loan entirely. They also can request the necessary fixes be made before they will move forward with borrowing any money. They want to make sure as lenders their money is protected. A roof that's caving in or older than ten years is a risk as far as they see it. All it's going to do is slow down the time it takes to get the sale finalized if you don't take care of the roof repairs or replacements ahead of time. Instead of trying to sell your home as-is, consider the plethora of benefits that come along with doing a complete roof replacement or at least the necessary roof repairs before putting your "For Sale" sign out front. You're chances of getting more money increase. You won't waste time dealing with negotiations from the buyers or requirements from the lending company. All in all, everything will go much more quickly because of the updated and gorgeous appearance a new roof gives your property. James Elliot and his team of expert roofing contractors at Fort Collins Roofing Company have been helping homeowners through the consistent hail damage plaguing the area for over 4 years. His expertise is in their streamlined process of helping homeowners through insurance claims processes so that they can get a new roof as soon as they need it.  

  • Seven Next Steps to Becoming Favorably Known as a Trusted New Home Advisor With Credentials (And a Marketing Plan) Aug. 19th 2019
    Your New Home Co-Broker (NHCB) designation gives you professional credentials to separate your services from your competition, or can if you take the following steps to make it happen. Bookmark this page and refer to it often. Step 1. Announce your credentials in Realty Times. Free. See sample. Before you do anything else, announce to the world that you earned your designation. All you have. Send a high-resolution .jpg of your photo and your contact information to with "NHCB Press Release" in the subject line and you are done. , Realty Times' professional staff prepares the copy and adds the designation logo to your announcement with their compliments. Step 2. Market your credentials in social media and your contact list. Now that you have a professional announcement in a real estate new service that draws about 500,000 visitors a month, copy and paste the announcement web address into your email, and your social media announcements. Show your announcement to your broker, because it is good publicity for your broker, too! Step 3 Make sure you can access new homes inventory on demand. Subscribe to This gives you access to the same new homes inventory and floor plans you will see on Never worry about finding new homes inventory on demand again. Free. Step 4. Enter the names and contact information for three internet advisors in your mobile phone contact system. Remember: they register your home shopper online, recommend specific products you should show, and many are now setting your appointments. Step 5. Download your logo your certification logo. If you wish to add your NHCB logo to your printed materials, website or blog, and need logo, download it here.  Step 6. Become your own publicist. It has been said that an expert is a person who has been quoted. There is a lot of truth to that. You can easily become favorably known as a trusted advisor by writing and publishing your own publicity right here in Realty Times for free. Click here to get started. Step 7. Implement a consistent, measurable and affordable social media and communications strategy that requires little or no thinking, writing, or planning on your part. Working closely with Realty Times, on your behalf, I am grateful and excited to strongly endorse a marketing package that makes more sense than anything I have researched over the years. Take a close look at the social media tools and newsletter combination with the understanding that your one monthly payment for less than a $100 a month takes all the marketing pressure off of you. Cancel any time. The task was to address these three issues: a. “I don't have the talent or the time to think about marketing”b. "I can never tell what I am getting for my money."c. "I can't afford it." The one thing none of us can say is, "I don't need to market my services." I looked long and hard for a long time and I have found nothing that better solves your marketing needs with as little demand and inconvenience to the agents as what is offered here. As is our policy we do not accept referral fees, because it would cloud our objectivity. Thank you for your business and thank you in advance for your referrals. Sincerely,  David FletcherFounder, Lic. Real Estate BrokerNew Home Co-Broker Academy LLC  

  • Millennials Compete With Seniors for Prime Real Estate Aug. 19th 2019
    The percentage of Toronto-area homes owned by seniors is rising, putting more pressure on an already tight real estate market. A recent report from Canada Mortgage and Housing Corp. (CMHC) says that rising homeownership rates among seniors in the Toronto area is making it tougher for younger generations to get into the market. Author Inna Breidburg says that as Toronto’s senior population grows at a faster pace during the next decade, “the conventional view is that this demographic shift will likely help to increase the supply of housing to younger homeowners, since seniors typically downsize or leave homeownership.” But she says baby boomers are working longer than previously and have more wealth, as well as community supports that will allow older seniors to stay in their homes longer. “Thus, over the next decade, seniors might not be freeing up the expected number of dwellings for younger households thus limiting supply. Furthermore, the share of seniors preferring to rent ground-oriented homes may increase further, thus contributing to tighter market conditions in this housing segment,” says Breidburg. In 2016, when the most recent census was conducted, seniors represented 14 per cent of the Toronto population, up from 11.3 per cent in 2006. That percentage is expected to grow to 18.2 per cent by 2026. Seniors owned 25 per cent of the homes in the Toronto area in 2016, up from 20.4 per cent a decade earlier. The homeownership rate among seniors was 75.1 per cent in 2016, up from 73.4 per cent in 2016. Breidburg’s report prompted a reaction from people who felt she was blaming boomers for the struggles that young people, particularly millennials, are facing in the real estate market. A popular millennial internet meme says, “If I had a dollar for every time a baby boomer complained about my generation, I’d have enough money to buy a house in the market they ruined.” A recent report by the Real Estate Intelligence Network (REIN) says millennials are the largest demographic in Canada, “which means their preferences will impact housing trends for years to come.” The report says so far, the Prairie provinces are the only place where there are more millennial homeowners than baby boomer owners. The report authors couldn’t resist adding a few jokes (“Look at that millennial, walking around like he rents the place.”), but it says real estate investors must learn how to cater to this growing demographic. The homeownership rate for millennials in the GTA is expected to rise from 40 per cent in 2016 to 60 per cent in 2026.  “We know that millennials want to purchase a home, but that means getting rid of student debt, having stable employment that pays well and saving for a down payment,” says REIN. “This cohort is living at home longer, delaying marriage and having children, and delaying their own home purchase. Millennials are more likely to purchase a condo or townhome in an urban centre with good transit and amenities that supports their individual lifestyle experience. At the end of the day, though, millennials are primarily renting, which is great news if you have a rental property.” The report says as of June 2018, 35 per cent of Canadian millennials were living at home. The increase in the number of intergenerational homes shows that rather than hurting millennials’ real estate prospects, many baby boomers are helping them by allowing them to save money while living at home. It’s a win-win. Seniors get to stay in their homes longer with live-in support, while young people have time to build a nest egg. This is also part of the reason why seniors are taking on more mortgage debt than they did a decade ago. The CMHC report says 26 per cent of all senior homeowner households in Toronto had a mortgage in 2016, up from 20.5 per cent in 2006. “The known reasons for having a mortgage at an older age was financing in-place retirement, renovations, investments, as well as helping other family members,” says Breidburg. The REIN report says millennials are “not necessarily looking for the same housing solutions as their parents or grandparents – i.e. not the ranch bungalow in the suburbs.” The report says the average age of a first-time mother has been steadily increasing since the 1970s and is over 30 in many parts of the country. “On average, it is only the first wave of millennials that has started to have children in the last few years. For a real estate investor, this translates into millennials not yet desiring a three- or four-bedroom house in the suburbs, instead preferring condo living in the urban centres.” However, a shift may be in the works as affordable real estate becomes harder to find in the cities. “The number of millennials moving out of Toronto and Vancouver for less expensive areas of their province is trending upward,” says the report. “Family is important to this generation, despite their delay in marriage or having children, so theoretically, eventually millennials may shift to suburban living, or at minimum, larger dwellings with multiple bedrooms, in greater numbers.” Breidburg’s report says among renters, the income of seniors was less than younger generations.  “Historically, across all age groups, homeowner households tend to have higher incomes compared to renters,” she says. “However, over the past years more young professionals with high earnings have been renting in Toronto, thus contributing to a decrease in the income gap between renters and homeowners in the younger cohorts. For seniors though, the income difference between renters and homeowners widened further.”