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Baby boomers may put 'tidal wave' of 21M homes on market -- but who will buy them?
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[quote:Anonymous Coward 76984449:MV80MTkzMzg3Xzc2MjY0MDM0X0UzMzA3OEI0] [quote:Shadow Dance:MV80MTkzMzg3Xzc2MjYzMDY5XzdEMjFDOEY1] baby boomers aren't dying in mass numbers ... they are moving out of their HUGE homes, into smaller ones in safer communities the oldest of the boomers are just now reaching 75yo and their generation was projected to live to be 125 on average ... old age for people raised on organic food, doesn't even begin until 85 ... there are over a hundred thousand people living (independently) in the USA that are OVER 100 years old (which don't even include the Boomers yet) most of the Boomers live in homes that are fully paid for ... and now is a great time to down size and dump them ... a high percentage of them are moving out of the USA to places where the cost of living is much cheaper, and their money goes farther .... but they aren't dying ... haha they are living LARGE - because they worked hard, and SAVED their money for the "golden years" [/quote] The cheap places they move to will eventually become expensive. One price for boomers and another price for locals. Or they will price the locals out of the area. [/quote]
Original Message
The U.S. is at the beginning of a tidal wave of homes hitting the market on the scale of the housing bubble in the mid-2000s. This time it won’t be driven by overbuilding, easy credit or irrational exuberance, but by an inevitable fact of life: the passing of the baby boomer generation.
One in eight owner-occupied homes in the U.S., or roughly nine million residences, are set to hit the market from 2017 through 2027 as the baby boomers start to die in larger numbers, according to an analysis by Issi Romem conducted while he was a senior director of housing and urban economics at Zillow. That is up from roughly 7 million homes in the prior decade.
By 2037, one quarter of the U.S. for-sale housing stock, or roughly 21 million homes will be vacated by seniors. That is more than twice the number of new properties built during a 10-year period that spanned the last housing bubble.
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