Millennials and Generation Z have been battered by a persistent housing shortage, with the US market currently short 7.2 million homes. However, there may be light at the end of the tunnel for those struggling to afford or even find a home, thanks to an emerging trend known as the “silver tsunami.”
A new report from Freddie Mac estimates homeowners aged 60-plus years (baby boomers) increasingly put their homes on the market as they enter retirement facilities, downsize, and/or estates sell off assets after death. This means the cohort, comprised of about 29% of the adult population and 44% of homeowners, could free up a whopping 9.2 million homes by 2035.
“Over the next five years, the decline is more modest, and we only see a reduction of 2.7 million households by 2028. In this sense, the silver tsunami is more like a tide, with a gradual reduction phasing in over several years. While the number of people aging out of homeownership will increase in the coming years, it is more of an upward sloping trend than a disruptive spike,” Freddie Mac economists wrote in the report.
Freddie Mac estimates the silver tsunami will only begin to accelerate by the end of the decade. In 2029, they expect 3.4 million net decline in the number of baby boomer homeowner households. By 2035, the figure could reach well over 9 million.
The report noted: “Given that the housing market is facing a shortage of available single-family homes, the housing decisions Boomers will make in the coming years will have an outsized impact.”
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Blackrock is ROFL, about this article
Why?
Because BlackRock is going to buy all those houses. Gen Z, is going to be Gen Renter.
It’s going to go from OK Boomer to OK Renter.
Because 8 million illegals will be filling those home when the government mandates it.
That’s the time to burn them down.
It doesn’t sound like a big enough impact.
Hell, let’s just euthanize all baby boomers. Think of all the homes that become available.
Buckin’ for that retroactive abortion are ya, ham bone? I can help you with that…renter.
apparently few here can recognize a sarcastic remark. You really think I was serious saying what I was saying? That’s pretty weak people.
Your dumbass still wouldn’t be able to afford any of them.
And when you look up the excess death charts, the Gen Z and Gen X age groups are the ones dropping dead of “Died Suddenly” keep trusting the Govt. and your pronouns will be WAS and WERE.
Muchas mass casas por las Nuevo Democrats. Nada por las Americamos.
What about all the illegals flooding into the USA.
Yep. The illegals will need housing, they are our replacement population after all. In Mass. people are already being asked to share their homes with illegals. Squatters have rights in many (most?) states.
Illegals will have their mortgages cancelled just like some students have. If we let it happen…
What is the effect of the Vaxx which was lived by the Boomers. How much will accelerated die off from all causes increase the available supply of housing.
THE PROBLEM ISN’T THE SO-CALLED “BABY-BOOMER’S…ITS THE “BANKOHOLIC’S” WHO DEFRAUDED EVERYONE EVER BORN…REMEMBER???
BlackRock’s already buying up these homes, so the illegal invaders will have a place to stay.
Bad News Gen-Zer’s…the homes are for the new arrivals, minorities and pedophiles…Whitey need not apply if we get another stolen RINO/Democrat victory.
Those Boomer vacated properties will be bought by Black rock and rented to the government for “migrant” housing. The Gen Z’s will he lucky to get jobs mowing the lawns of the south American Nuevo Democrats and Syrian Rapefugees.
It’s not just housing but all excess stuff that baby boomer’s have accumulated from our glorious consumption years. Just look at all the storage facilities that have built in the past 10-15 years. Now where I live is the creation of storage condominiums. Why rent off site storage facilities when you can own it??
I already see it at estate sales. Solid oak Ethan Allen furniture for $100 for a dresser or $20 for a night stand, because the rich young crowd doesn’t want used stuff. When things turn, they will want to have that for fire wood.
Regardless of the “silver tsunami” there will be plenty of houses available.
Deaths from wars, famine, bankruptcy, and vaccine deaths will ensure that.
BTW, those who bought McMansions will take a massive financial beating in trying to unload those unwanted monstrosities.
I agree. The well kept 1000 square foot house on 1.5 acres will be much sought after.
Joel Salatin said that 50% of American farms will change hands in the next 15 years because the average farmer is 60 years old. Some will probably go to heirs who will continue farming. Will the rest be bought by the Bill Gates of the world? Will I be able to get a bargain? Still waiting…