According to CMHC (Canadian Mortgage and Housing Corporation) in 2006 about 25 per cent of the Canadian population was over the age of 55 and by 2036 that number will increase to about 35 per cent. Furthermore, CMHC has said that the population of senior citizens living in Canada will continue to grow at a pace quicker than other demographic sectors. In Housing for Older Canadians: The Definitive Guide to the Over-55 Market, CMHC stated that between 1991 and 2031 the portion of people over the age of 65 is expected to increase from 1 in 9 persons to 1 in 4 persons. This growing number of senior citizens will continue to bring about a corresponding demand for seniors housing in our communities.
Seniors on a fixed-income are at a unique disadvantage in quickly escalating housing markets. Simply stated, when the price of rents increase their fixed-income remains the same, making it incredibly difficult for them to adjust to the increased costs. Furthermore, the Government of Saskatchewan’s Task Force on Housing Affordability indicated that while seniors would often like to move to more suitable locations, there is a lack of appropriate accomodations available to meet their needs.