Riddle for the Castanauts.

[racewife]

9

[gambler]

38

[Glacier]

Prince George's population has been in decline for about 20 years now, and yet the demand for housing continues to increase.

Why?

[Captain Awesome]

Prince George's population has been in decline for about 20 years now, and yet the demand for housing continues to increase.

Why?

Crackheads keep burning down houses faster than population declines.

[Glacier]

A good guess, but sorry, try again.

[grammafreddy]

1. People who are renters want to buy due to low interest rates but they want more affordable.

2. Ebb and flow. More ebbing than flowing. Flowing want to purchase, not rent.

[Glacier]

Nope. Nothing to do with renting vs. owning. It's a phenomenon quite common all cross Canada independent of market conditions.

[grammafreddy]

The drop in population is in PG but the demand for housing is in some other location???? (Or the demand is everywhere except PG?)

[Glacier]

The demand for housing continues to rise in PG despite a declining population.

[strwbrrydvl]

More people are moving outside the city limits? The area is growing but the population of the city itself is declining?

[Glacier]

Nope. Demand for housing even within the city limits continues to increase. Many other Canadians cities also with stagnating or slowing declining populations have the same phenomenon. ie. increased demand for housing despite no extra people.

[Lady tehMa]

Nope. Demand for housing even within the city limits continues to increase. Many other Canadians cities also with stagnating or slowing declining populations have the same phenomenon. ie. increased demand for housing despite no extra people.

Kids moving out into their own homes? Families splitting up?

Older homes reaching the end of their economic life and needing to be replaced?

[Glacier]

Yes to your first two, and no to the last guess.

The short answer is smaller households.

Reasons:
1) Aging population so kids are moving away and people are being widowed.
2) People getting divorced (more people living alone).



P.S. This is very common all across Canada because of the aging population. When I was in elementary school, there were 70 kids in my school. Today there are something like 17 in the same school. And despite this, there are actually MORE homes in the community today than when I lived there.

ETA: And guess what's going to happen when the Baby boomers start downsizing...housing demand is going to tank. I was talking to someone on the weekend whose parents are trying to sell their place in beautiful Horsefly. A very nice house, They've recently dropped the price by $100,000, and yet it's still not selling.

[Glacier]

We did our taxes tonight. My wife did not make any income last year, and my income places me in the second marginal tax rate.

We did have some income that either of us could claim, and even though her marginal tax rate is (15%+5.06%) against my (22% +7.7%), it is more advantageous for us if I claim the income instead of her.

Explain.

[kgcayenne]

Does it have to do with who claims the dependent children?