Boomers redefine the golden years
Vancouver continues to be rated one of the world’s most livable cities and with the 2010 Olympics and changing demographics, it’s about to get even more popular.
    “The Lower Mainland will be one of three top growth areas in Canada,” says David Baxter, a leading demographer and head of the Vancouver-based Urban Futures Institute, which studies land use and community change.
     Baxter expects the population of the metropolitan Vancouver region to grow by more than 42 per cent to 3.4 million people during the next 25 years. That’s a million more people than are here now.
    The baby boom generation, now aged 39 to 58, make up almost one-third of our population. Their aging will result in an increase in the over-55 population of 115 per cent, and in the 65 plus population of 140 per cent by 2026. “They’re going to be a force to be reckoned with,” says Baxter.
    Baxter explains that we’re at a significant turning point in our demographics. “We’ll see a redefining of aging, a redefining of youth and a redefining of retirement housing.”
    Some aging baby boomers, says Baxter, will want to “move out of the suburbs and back into the urban environment, while others will remain content in their single urban detached homes.”
    What features do they most want? “Lifestyle,” says Baxter. “For some that means lower maintenance, higher density homes such as townhouses, apartments, and small lot, single-family homes.”
    Close by, or as part of “adult” communities, many boomers will want fully equipped fitness centres complete with heated swimming pools, steam rooms and saunas, with classes such as yoga, gardening, nutrition and cooking, as well as the opportunity for old timers hockey.
    For realtors, Baxter says there are tremendous opportunities to market to the older population. “Remember this group has significant income and they’re prepared to spend it to enjoy their retirement.”