Have you heard this term??
The Echo Boom generation, also known as Generation Y or the Millennial Generation, are the children of the Baby Boomers. These Echo Boomers are Canada’s largest demographic group and they are active participants in the housing industry, having families and securing great jobs.
As another driver in the real estate market, these technologically savvy people would rather own than pay rent and are not jaded by sky high interest rates and lower than imaginable housing prices. Researchers predict that population trends will restore vitality to the housing market as the Canadian population continues to rise, creating new households and a greater need for housing.