Humber/Ontario Real Estate Course 3 Exam Practice

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Which of the following about demographic research is NOT correct?

  1. New developments help in advising seller timing

  2. Demographic research reveals community trends

  3. Downsizing is rarely due to demographic changes

  4. Older adults reduce housing by downsizing

  5. Identifying local trends aids market strategy

  6. Younger families affect property values

The correct answer is: Downsizing is rarely due to demographic changes

The assertion that downsizing is rarely due to demographic changes is not correct because demographic shifts often play a significant role in individuals' decisions to downsize. As people age, they frequently seek to adjust their living arrangements to better fit their current lifestyle needs, which often includes moving to smaller homes. Factors such as retirement, changes in household composition, or financial considerations related to fixed incomes can prompt older adults to downsize. Recognizing the influence of demographic trends is essential for understanding patterns in the real estate market. This can indicate that the decision to downsize is not just a personal choice but is often driven by broader demographic shifts in the population. Such insights are crucial for real estate professionals as they develop strategies to meet the needs of various market segments.

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