[Press Release] – Affordable Retirement Senior Living in Bruce County Peninsula set to ease senior housing crises in Ontario
Summary: Wiarton Retirement Residence has opened a new retirement residence with an aim of alleviating retirement residence crisis in Ontario.
Canada, like many other Western countries, is grappling with the issue of a rapidly growing older adults’ population. Statistics Canada project that the number of seniors in Canada is expected to be higher than that of children below fourteen years by the year 2021, with the number rising to ten million by the year 2036. In a Senior Housing Survey that was conducted by Canada Mortgage and Housing Corporation, Ontario has a total of 62,633 senior homes, an increment of 2.4 percent from last year’s figure. Analysts are of the opinion that the increment is not good enough. There is a great shortage of homes for older adults, with a prediction that the problem may escalate if no tangible action is taken. In its analysis of the Canadian Senior Housing Dilemma, the DBRS report indicated that housing is a national crisis affecting all Canadians regardless of age, but seniors experience greater problems since they tend to have specific housing needs. CHMC 2019 report observed that prices for senior care facilities are increasing in almost every province, a development which is attributed to the growing demand for senior care communities.