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The new real estate reality for retirees: Exiting the workforce with mortgage debt
The new real estate reality for retirees: Exiting the workforce with mortgage debt Cana...
About this update from Bridgemarq Real Estate Services, Inc.
[{"type":"text","content":"\n\n\n\n The new real estate reality for retirees: Exiting the workforce with mortgage debt\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n Nearly a third of Canadians retiring within the next two years say they won't have their home paid off\n \n\n\n\n\n Highlights:\n \n\n\n\n Three in ten Canadians (29%) planning to retire within the next two years say they will carry a mortgage into retirement.\n \n\n Nearly half (47%) of Canadians approaching retirement say they do not plan to downsize their home.\n \n\n 43% of Royal LePage experts say condominiums are the most popular property type among downsizing retirees.\n \n\n\n\n\n TORONTO\n \n\n ,\n \n\n May 27, 2025\n \n\n /CNW/ - A recent Royal LePage survey, conducted by Leger,\n \n 1\n \n suggests a new housing reality for older Canadians is taking shape. According to the survey, nearly three in ten Canadians (29%) who are planning to retire in 2025 or 2026 say they will continue to make mortgage payments on their primary residence into retirement. The trend seems to be accelerating, as affordability continues to challenge Canadians of all ages: only half as many senior households had mortgage debt approximately ten years ago. According to Statistics Canada, 14 per cent of households with income earners aged 65 and over had a mortgage in 2016, up significantly from eight per cent in 1999.\n \n 2\n \n\n\n \"The benefits of entering retirement as a homeowner with a paid-off mortgage are clear: more disposable income, insulation from interest rate changes, and even the emotional security that comes from knowing you'll always have a place to live. In the era of rotary phones and station wagons, burning your mortgage was the economic finish line. ...