The Impending 'Silver Tsunami' and Its Impact on the Housing Market

A "silver tsunami" of baby boomers downsizing their homes is predicted to hit the housing market in the next year or two, potentially bringing over 30 million housing units to the market. However, this may not necessarily benefit millennials and Gen Zers looking to enter the housing market, as factors such as high mortgage rates and escalating home prices have already made it difficult for them to afford homes. Many younger generations are still living with family members due to the expensive housing market, and even with the money saved from living at home, it may not be enough to afford a home. The downsizing trend may also push up starter home prices, further hindering younger buyers.