From Time Magazine:



This year has been particularly hard for potential home buyers, with low inventory levels. Many people are blaming the baby boomers, saying that they are holding onto their homes for too long and are blocking younger generations such as millennials and Gen Zers from being able to buy homes. However, there is hope that a shift will come starting next year, as experts are predicting a “silver tsunami” of baby boomers downsizing and bringing more inventory to the market.

Some believe that this downsizing will lead to a supply-demand dynamic shift. Housing market experts have predicted significant market changes in 2024 due to a potential downsizing by baby boomers. However, there are conflicting views on this, as some believe that it will take longer than two years for the mass downsizing to be complete. Furthermore, others believe that even if there is a sudden increase in supply, it won’t solve all of the housing affordability challenges that currently exist.

It’s expected that baby boomers, who will have greater cash flow due to home equity, will be able to make more compelling offers on homes compared to younger generations, further exacerbating the competition in the housing market. Despite the conflicting views on the timing of boomers downsizing, it is expected that there will be only minor changes in the market during 2024.



Read more: Housing market experts split on whether the ‘silver tsunami’ of baby boomer downsizing will happen in 2024