Yes, BB, a great deal of truth in that. But in addition to seniors not wanting a downsize, which may affect their pension, there are also the self-funded retirees that balk at spending circa $50,000 in agents commission, $100,000 in stamp duty and moving cost, just for the dubious privilege of moving into a smaller home. Keeping in mind that many in this position are dollar marginal - a dollar whisker away from claiming the pension. So, to sell their muti bedroom/bathroom homes could easily result in the loss of circa > $150,000 of their hard-earned retirement savings and a claim on the pension. Regardless, of highly self-funded or marginal self-funded or on the pension, the expectation is that they should lose circa >$150,000 of their own money to house the next generation (which is clearly a government responsibility). Not going to happen until they're old enough for the retirement village. In any case, for the marginal SFR's and pensioners only, if the State govnuts waved stamp duty for these potential downsizers (incentivize them) to give up their multi bedroom/bathroom homes, then, and only then, will transfer occur.
