ESTATE OUTLOOK Wednesday February P gel Housing for the elderly NONo one wants to admit that arc gelling old especially this writer However retire mem market those over and is the fallen growing men I in Canada What can we do about it Developers have already stoned to build retirement communities old age homes and ing homes However Canada lags behind several other countries when comes to creative housing for the eld That means we as vidua con own housing la I our changing needs There are some obvious factors to keep in mind First older people like everything on one floor That means lose I he appeal as one ages in buildings with tors are mu re Ider people want 10 be close public lion Plus they have to be able to walk Housing demand Last month we made forecasts for real estate markets in We saw stable prices with market volumes up about annual basis No spec tacular but certainly reassuring given the strong markets of thai time we said the key to mar forecasting was the demand side buyers Thcstockofhousing the supply side can take several yean to adjust In looking at demand mosi people focus on population Canada lion has seen a useable down in growth One would then hive expected the housing market in general to reflect this slow down But what mary people have overlooked is the rate of family formation defined as unit requiring their own accommodation This rate has been growing much aster than the population We have seen more and more single people living alone and requiring their own separate residence As our population ages wewillhave more adults fewer children more REAL ESTATE AND YOU Jamie Johnston If your current property already has features then you re set More importantly you know that your prop erty will be in demand by other seniors Arid means your property should appreciate at a better rale I nan others your market place Canada Mortgage and Housing Corporation has some excel lent literature on housing needs and alternative housing for the elderly Granny to ned com within large cities Drop by or write the CMHC office Most of information is free For a Moving crttddiit writ Canada Trust Realtor 320 Bay St TorontoM3H2P6 TollfrM 1-400-266- REAL ESTATE Jamie Johnston vorccs and more widows and widowers The end result is thai family formations are en peeled outpace population growth for next several years At the start of the decade people saw a slowing down of the overall market Now looks like basic strength of the market will well into That good news for builders and real estate salespeople loo And what for construction is usually good for the country as the construction industry has one of the largest mullipl effects 1 e stimulant to other sectors of the economy of any segment For a How to 80 Your Horn Canada Trust RMltor Bay St Toronto Toft DOWN HOME COUNTRY NEW LISTING OFFERED AT 199900 For your personal viewing Call Bill McKeown or Andy King 3 bedrooms washrooms sauna main floor fiorlda room Large country kitchen GUELPH STREET BUSINESS Established Local RetaB Business For Sale Approx 00 In preluded 000 OOin 19 A FANTASTIC DEAL FOR THE RIGHT PERSON OFFERED AT 38 000 00 RESTAR MARLATT REALTY GROUP INC NETWORK OF THE STARS MEMBER REALTOR