{"id":187,"date":"2014-11-23T23:25:37","date_gmt":"2014-11-23T23:25:37","guid":{"rendered":"http:\/\/chrisbrownrealestate.ca\/blog\/?p=187"},"modified":"2014-11-23T23:31:51","modified_gmt":"2014-11-23T23:31:51","slug":"single-ladies-drive-canadas-condo-market","status":"publish","type":"post","link":"https:\/\/www.chrisbrownrealestate.ca\/blog\/single-ladies-drive-canadas-condo-market\/","title":{"rendered":"Single ladies drive Canada’s condo market"},"content":{"rendered":"
\"The<\/a>

The Independent, coming soon to Mt Pleasant. www.independentatmain.com.<\/p><\/div>\n

The one-person household is the fastest-growing category in Canada\u2019s housing market as the population ages and more people opt to live alone.<\/p>\n

One-person \u201chouseholds are expected to show the fastest pace of growth to 2036, making it the single biggest type of household by the 2020s,\u201d according to Canada Mortgage and Housing Corp. statistics for 2013.<\/p>\n

And home ownership by one-person households is also on the rise as seniors become wealthier and young people delaying marriage flock to budget-priced, one-bedroom condominiums.<\/p>\n

Women are overrepresented in the singles condo market, according to CMHC.<\/p>\n

In 2011 \u2013 the latest year for which data are available \u2013 women represented 65 percent of condo owner occupants living alone, with that number rising to 76 percent for those 55 and older.<\/p>\n

Also in 2011, 28 percent of households were one-person, more than twice their 13 percent share in 1971. In comparison, couples with children over the same time span shrank to 29 percent from 50 percent.<\/p>\n

\u201cThis is a very important force: more single people living by themselves, mainly women,\u201d CIBC World Markets Inc. deputy chief economist Benjamin Tal said.<\/p>\n

In the booming condo market \u2013 particularly Toronto \u2013 \u201cyou can see the one-bedroom is basically what\u2019s selling,\u201d Tal said.<\/p>\n

\u201cThere are now more one-person households than couples with children. This share is expected to continue to rise over the next two decades, driven in large part by an aging population, in particular an increase in the number of widowed women living alone,\u201d Bank of Nova Scotia economist Adrienne Warren said in a report on global real estate trends last year.<\/p>\n

But it\u2019s still too early to call the huge presence of women in one-person arrangements as a \u201cwidow boom.\u201d<\/p>\n

The trend has been a decline in older women living alone since 2001, University of Lethbridge sociology professor Susan McDaniel said. But among women under 65, one-person households are rising, she said.<\/p>\n

Also contributing to the shift to single-person households is a growing desire for privacy.<\/p>\n

\u201cPart of the issue is that more people can choose to live alone,\u201d McDaniel said. And they are \u201cliving alone but not alone.\u201d<\/p>\n

The Internet boom and social networking make connecting with friends and family much easier while at the same time enjoying one\u2019s privacy, she said. \u201cPartly, they are living alone because they can and they have big social nets or families, but they can afford to and want to live alone.\u201d<\/p>\n

Immigrants, particularly among professionals, are less likely to share apartments or houses, Tal said.<\/p>\n

A person living alone is still more likely to rent than to own but that is changing fast.<\/p>\n

\u201cIn 2006, about half [52 percent] were renters compared with less than a third of the overall population,\u201d Warren said.<\/p>\n

\u201cNonetheless, the home ownership rate among one-person households has increased in recent decades. Among these homeowners, almost a quarter chose a condominium over other dwelling types.\u201d<\/p>\n

Read more:\u00a0http:\/\/www.bnn.ca\/News\/2014\/11\/21\/Single-ladies-drive-Canadas-condo-market.aspx#.VHIn0NWIxN4.google_plusone_share<\/a><\/p>\n

Learn more about The Independent at Main in Mt. Pleasant by Rize Alliance, coming to market in early 2015:\u00a0http:\/\/independentatmain.com\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The one-person household is the fastest-growing category in Canada\u2019s housing market as the population ages and more people opt to live alone. One-person \u201chouseholds are expected to show the fastest pace of growth to 2036, making it the single biggest type of household by the 2020s,\u201d according to Canada Mortgage and Housing Corp. statistics for 2013.<\/p>\n","protected":false},"author":2,"featured_media":188,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[12,47,14,54],"tags":[316,71,51,42,74,314,73,72,70],"class_list":["post-187","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-advice-for-buyers","category-first-time-buyer","category-new-homes","category-real-estate-news","tag-city-of-north-vancouver","tag-distr","tag-first-time-buyer-2","tag-lower-lonsdale","tag-mt-pleasant","tag-new-homes","tag-rize-alliance","tag-the-independent-at-main","tag-woman-in-real-estate"],"_links":{"self":[{"href":"https:\/\/www.chrisbrownrealestate.ca\/blog\/wp-json\/wp\/v2\/posts\/187"}],"collection":[{"href":"https:\/\/www.chrisbrownrealestate.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chrisbrownrealestate.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chrisbrownrealestate.ca\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chrisbrownrealestate.ca\/blog\/wp-json\/wp\/v2\/comments?post=187"}],"version-history":[{"count":4,"href":"https:\/\/www.chrisbrownrealestate.ca\/blog\/wp-json\/wp\/v2\/posts\/187\/revisions"}],"predecessor-version":[{"id":192,"href":"https:\/\/www.chrisbrownrealestate.ca\/blog\/wp-json\/wp\/v2\/posts\/187\/revisions\/192"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.chrisbrownrealestate.ca\/blog\/wp-json\/wp\/v2\/media\/188"}],"wp:attachment":[{"href":"https:\/\/www.chrisbrownrealestate.ca\/blog\/wp-json\/wp\/v2\/media?parent=187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chrisbrownrealestate.ca\/blog\/wp-json\/wp\/v2\/categories?post=187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chrisbrownrealestate.ca\/blog\/wp-json\/wp\/v2\/tags?post=187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}