Housing Market Faces 'Silver Tsunami' as Boomers Downsize, Squeezing Millennial Buyers
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Analyst Meredith Whitney predicts a "silver tsunami" as aging baby boomers downsize homes, putting over 30 million units on the market starting in late 2024.
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The influx of homes could cause prices to fall as supply increases, unless enough younger buyers absorb the inventory.
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Economists argue millennials may miss out on the silver tsunami as they are just reaching home-buying age when it starts.
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Boomers downsizing into smaller homes may compete with millennials for affordable starter homes, further squeezing younger buyers.
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Younger generations already trail boomers in home equity and ownership rates due to stagnant incomes and high costs.