HousingWire Daily
Chris Clow on where we could see ‘silver tsunami’ inventory
Dec 13, 2024
Chris Clow, a HousingWire editor specializing in the reverse mortgage industry, dives into the 'silver tsunami'—the wave of homes expected to hit the market as older generations age. He discusses why many seniors are hesitant to sell, impacting housing availability for younger buyers. The conversation also touches on the increasing significance of manufactured homes amid rising prices and affordability challenges. Chris highlights innovative solutions to adapt to the needs of multigenerational families and critiques the regulatory landscape affecting consumer protection.
33:21
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Quick takeaways
- The aging 'silver tsunami' demographic is largely choosing to age in place, causing a reluctance to sell homes and exacerbating inventory shortages.
- Rising prices in the manufactured housing market highlight an emerging affordable housing solution, although outdated perceptions still hinder its growth.
Deep dives
The Silver Tsunami and Housing Inventory
The concept of the silver tsunami refers to the aging population in the U.S., where individuals aged 65 and older are projected to outnumber those under 18 in the near future. This demographic shift has significant implications for the housing market, particularly regarding the expectation that many older homeowners will sell their properties, therefore increasing housing inventory. However, contrary to initial hopes, many baby boomers are choosing to remain in their homes or pass them on to family members, rather than flooding the market with homes for sale. This resistance to selling is contributing to a persistent housing shortage, particularly in densely populated economic centers where larger numbers of families are seeking homes.
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