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Ian Watt has some interesting blogs from time to time, but it sounds like he only gets half the equation here - he heard what he wanted to hear, because he's trying to sell condos.  If the majority of empty nesters are downsizing -- WHO IS GOING TO BUY THOSE BIG HOUSES AT PREMIUM PRICES?

It's clear from the stats thrown out there by Ian referencing CMHC there are nowhere near the number of first time buyers necessary to absorb that inventory, and even if the numbers were right, that set up is all wrong.  First time buyers generally don't start into the market buying the biggest most expensive properties available.