For many seniors, it’s easier to live in big, empty homes than to downsize
. The lack of housing alternatives for seniors and the high costs of housing are driving the trend, experts say.According to the Canadian Banker’s Association , just 15 out of 10,000 mortgaged households are 90-plus days behind on their payments, near the lowest level in decades. Together, high household debt, rapidly increasing interest rates, and the cost of living have created severe financial stress, yet, mortgage arrears are near record lows.
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