The Silver Tsunami: The New-Money Wave
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The Silver Tsunami: The New-Money Wave
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About this listen
The U.S. housing market is defined by one dominant force: the 70 million-strong baby boomer generation. They are now the largest group of both home buyers and sellers, controlling supply and demand.
Boomers own up to $19 trillion in real estate—nearly half the entire U.S. market. But this dominance creates a great contradiction.
While some migrate to lifestyle havens like Florida, the vast majority are not moving. They are "aging in place." This has created a "housing traffic jam." Empty-nester boomers own 28% of the nation's large, three-bedroom-plus homes... nearly double the 14% share held by millennial's with children.
Why stay? They're locked in by the "golden handcuffs" of rock-bottom mortgage rates. Selling and buying again, even a smaller home, would often mean a higher monthly payment.
While this freezes today's inventory, change is inevitable. The coming "Silver Tsunami" and the "Great Wealth Transfer"—estimated at over $70 trillion—will eventually release this housing stock, reshaping the market for decades to come.
Jim McDonald - Senior Realtor in Central Florida (352) 492-1699 or email: your352realtor@gmail.com