WHY CANADA'S HOUSING BOOM COULD BE IN FOR A BIG ECHO

A new report suggests the housing market may have stronger legs than anybody thinks because of a massive number of echo boomers in the market.

Bank of Montreal economist Robert Kavcic says the echo boomers may be poised to start buying those detached homes when the boomers finally start retiring and downsizing.

"The Canadian housing market keeps soldiering on and, while much focus is cast on brash calls of overvaluation, mortgage rate wars and mortgage rules, demographics are playing a less-publicized yet important role. The baby boom generation grabs most of the attention on this front, but their children, the echo boomers, pack a heavy economic punch as well," wrote Mr. Kavcic, in a report released Thursday.

Even though there are about 10 million Canadian baby boomers aged 49-67, they are actually outnumbered by those aged 20-38.

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"While fertility rates among boomers were lower than for their parents, leaving fewer kids, immigration, which is highly concentrated in this age group, has fully filled the gap" wrote the economist, noting the group is now moving through its prime first-time buying years.

While there were other factors that coincided with a housing downturn in 1989, Mr. Kavcic noted there were huge plunge in population growth in the 25-34 age group in the 1990's.

"Interestingly, it was only when this age group began to expand again on the sustained basis (around 2002) that the next bull market really began, in part because of a pickup in immigration, but also helped by the aging of the echo boomers." he said.

Growth among this age group is expected to cool but there are a few expansion years left with stagnation not occurring until 2018.

"From a stricly demographic perspective, that would place us around the 7th inning of the secular bull market in Canadian housing, before conditions come unfavourable around the turn of the decade. "wrote Mr. Kavcic....   By Garry Marr, Financial Post June 12, 2014

CANADIANS WILL WORK POST-RETIREMENT

More than half of Canadians now in their 50's plan to keep on working after retiring in their 60's, in many cases to supplement their income, finds a CIBC survey.

"The retirement landscape is shifting as baby boomers reach traditional retirement age with a smaller nest egg than they expected to have "says Christina Kramer, executive vice-president, retail distribution and channel strategy at CIBC.

Quebec residents were least likely to say they'll work after retirement, at 47%. Manitoba and Saskatachewan residents were the most likely to say they planned to work after retirement, at 59%.

Atlantic Canada (54%), Ontario (55%), Alberta (57%) and British Columbia (49%) were closer to the national average of 53%.

Meanwhile, about 29% of those surveyed said they were not sure if they would work after retirement, while 14% said they would definitely not work post retirement. According to the survey, almost half of today's 50-59 year olds surveyed have less than $100,000 saved for retirement and many planned to use employment income in retirement to make up for lack of savings.

"Many Canadians are now planning to draw on multiple sources of income including employment to fund their retirement, and that makes getting advice about how to manage your income, savings and investments even more important," adds Kramer.

Overall, the survey found that those who plan to keep on working  37% said they would do so part time. And only one third of those who plan to work post retirement said they would do so just for money. Two-thirds saw working either as a way to either stay socially active, or found work enjoyable and wanted to stay involved in the workforce in some capacity.

The average age at which the responents plan to retire varied by region, with those in Atlantic Canada, Quebec and Manitoba and Saskatchewan looking to retire earliest at age 62. Ontarians were next at 63 and followed by those in Alberta and British Columbia at age 64.

BABY BOOMERS AND HEALTH

OTTAWA Feb 5th, 2013 unless baby boomers take immediate action they may spend their last years in sickness, disability and immobility, Canadian researchers warned.

A Heart and Stroke Foundation survey found almost 80 % of Canadian boomers said they think their doctors would rate them as healthy, but their self-reported lifestyle choices show otherwise.

85% of Canadian boomers said they did not eat enough vegetables and fruit, more than 40% said they didn't get enough physical activity each week, 21% said they had smoked and 11% said they were heavy drinkers, the study said.

Despite these lifestyle habits, more than a quarter of Canadian baby boomers said they didn't feel concerned about how healthy they will be later in life, while 74% said they didn't know they could reduce their risk of heart disease and stroke by up to 80% with lifestyle modifications.

"The lifestyle choices that Canadian boomers are making directly contribute to living the last 10 years of their lives in sickness. This should cause boomers a lot of concern" Dr. Beth Abramson, a spokeswomean for the Heart and Stroke Foundation, said in a statement.

More than half of boomers said they wanted to travel and be active around the house in retirement, 38% want to be involved grandparents, 36% want to take up a new hobby, and a quarter would like to winter somewhere warm and sunny.

The survey was conducted in November 2012 by Leger Marketing among 800 Canadian baby boomers born 1947 to 1966. The survey has a margin of error of 3.5 % points.

 Elder Abuse... What's New

SNOWBIRDS AND HOLIDAYS

When all of you Snowbirds finally make your way south for your annual vacation away from our brutal Canadian winters, the last thing you need is to worry about the safety of your home.

Here are some key steps you should take to insure peace of mind when your away from home.  The following home safety tips for you can help you plan important safety measures before you leave.

1.  Suspend your newspaper and mail delivery; or have a neighbour collect them for you.

2.  Make sure your home looks lived in. Try not to draw the window treatments in every window, make it look natural.

3.  Have someone routinely shovel the walk, clear your car off and/or have someone park in your driveway at times.

4.  Don't forget garbage collection day. Ask a neighbour to put a bag of garbage at your curb on garbage day so not to tip offer burglars.

5.  Set your lights on timers, in various rooms.  With some timers, the lights go on and off at different times each day, which means know one will pick up on the pattern.

6.  Look into installing motion sensor lights outside to help deter a burglar.  Consider installing them in front and back.

7.  Ensure that all your doors and windows are locked and secure.  Don't forget about the garage. For additional security, place a bar or stick of wood in the lower tracks of any sliding doors or windows.

8.  Turn off the main-water and unplug any major appliances as an added precaution.

9.  Inform a neighbor when you're leaving and returning, and ask them to keep an eye for anything suspicious.  Leave them a phone number where you can be reached, and a spare set of your keys incase of any emergency.

10.  Consider investing in a home security system.  A home security system is a very effective deterrent. A home protected by a monitored security system is less susceptible to a break in than one without a system.  Security system decals and signs are also very effective. Make sure your security systems includes a loud inside alarm, detectors at all exterior doors, and motion sensors in the master bedroom and main living areas.

Cindy Zettel