Baby boomers are those people born after world war two up until the mid-1960s. The first baby boomers reached the standard retirement age of 65 in 2011 and subsequently, others started leaving the workforce, making it difficult to fill in the gap of the retiring employees.
Recent study by Equifax found that 50 percent of suspect and highly suspect credit application frauds in Canada in 2015 were against Millennials.
The demand for an average detached home in Vancouver has risen as foreign investors have driven up prices in the city. This has lead to many baby-boomers realizing that this would be the best time to for them to sell and head out to smaller towns.