{"id":1321,"date":"2024-04-06T19:09:43","date_gmt":"2024-04-06T19:09:43","guid":{"rendered":"https:\/\/johnsonteamrealestate.com\/?p=1321"},"modified":"2024-04-24T19:12:16","modified_gmt":"2024-04-24T19:12:16","slug":"boomers-moving-will-be-more-like-a-gentle-tide-than-a-tsunami","status":"publish","type":"post","link":"https:\/\/johnsonteamrealestate.com\/index.php\/2024\/04\/06\/boomers-moving-will-be-more-like-a-gentle-tide-than-a-tsunami\/","title":{"rendered":"Boomers Moving Will Be More Like a Gentle Tide Than a Tsunami"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Have you heard the term \u201cSilver Tsunami\u201d getting tossed around recently? If so, here\u2019s what you really need to know. That phrase refers to the idea that a lot of baby boomers are going to move or downsize all at once. And the fear is that a sudden influx of homes for sale would have a big impact on housing<\/a>. That\u2019s because it would create a whole lot more competition for smaller homes and would throw off the balance of supply and demand, which ultimately would impact home prices.<\/p>\n\n\n\n

But here\u2019s the thing. There are a couple of faults in that logic. Let\u2019s break them down and put your mind at ease.<\/p>\n\n\n\n

Not All Baby Boomers Plan To Move<\/strong><\/h4>\n\n\n\n

For starters, plenty of baby boomers don\u2019t plan on moving<\/a> at all. A study<\/a> from the AARP<\/em> says more than half of adults aged 65 and older want to stay in their homes and not move as they age (see graph below<\/em>):<\/p>\n\n\n\n

\"a<\/a><\/figure>\n\n\n\n

While it\u2019s true circumstances may change and some people who don\u2019t plan to move (the red in the chart above)<\/em> may realize they need to down the road, the vast majority are counting on aging in place.<\/p>\n\n\n\n

As for those who stay put, they\u2019ll likely modify their homes as their needs change over time. And when updating their existing home won\u2019t work, some will buy a second home and keep their original one as an investment to fuel generational wealth for their loved ones. As an article from Inman<\/em> explains<\/a>:<\/p>\n\n\n\n

\n

\u201cMany boomers have no desire to retire fully and take up less space . . . <\/em>Many will modify their current home, and the wealthiest will opt to have multiple homes.\u201d<\/em><\/strong><\/p>\n<\/blockquote>\n\n\n\n

Even Those Who Do Move Won\u2019t Do It All at Once<\/strong><\/h4>\n\n\n\n

While not all baby boomers are looking to sell their homes and move \u2013 the ones who do won\u2019t all do it at the same time. Instead, it\u2019ll happen slowly over many years. As Freddie Mac<\/em> says<\/a>:<\/p>\n\n\n\n

\n

\u201c<\/em>We forecast the \u2018tsunami\u2019 will be more like a tide<\/em><\/strong>, bringing a gradual exit of 9.2 million Boomers by 2035 . . .\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n

As Mark Fleming, Chief Economist at First American<\/em>, says<\/a>:<\/p>\n\n\n\n

\n

\u201c<\/em>Demographics are never a tsunami. <\/em><\/strong>The baby boomer generation is almost two decades of births. That means they\u2019re going to take about two decades to work their way through.\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n

Bottom Line<\/h3>\n\n\n\n

If you’re stressed about a Silver Tsunami shaking the\u00a0housing market<\/a>\u00a0overnight, don’t be. Baby boomers will move slowly over a much longer period of time. Contact Johnson Team Real Estate at 360.303.2734 or email Info@JohnsonTeamRealEstate.com.<\/p>\n","protected":false},"excerpt":{"rendered":"

Have you heard the term \u201cSilver Tsunami\u201d getting tossed around recently? If so, here\u2019s what you really need to know. That phrase refers to the idea that a lot of baby boomers are going to move or downsize all at once. And the fear is that a sudden influx of homes for sale would have […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-1321","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-uncategorized","7":"entry","8":"has-post-thumbnail"},"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"fawn","author_link":"https:\/\/johnsonteamrealestate.com\/index.php\/author\/fawn\/"},"_links":{"self":[{"href":"https:\/\/johnsonteamrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/1321","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/johnsonteamrealestate.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/johnsonteamrealestate.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/johnsonteamrealestate.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/johnsonteamrealestate.com\/index.php\/wp-json\/wp\/v2\/comments?post=1321"}],"version-history":[{"count":1,"href":"https:\/\/johnsonteamrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/1321\/revisions"}],"predecessor-version":[{"id":1324,"href":"https:\/\/johnsonteamrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/1321\/revisions\/1324"}],"wp:attachment":[{"href":"https:\/\/johnsonteamrealestate.com\/index.php\/wp-json\/wp\/v2\/media?parent=1321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/johnsonteamrealestate.com\/index.php\/wp-json\/wp\/v2\/categories?post=1321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/johnsonteamrealestate.com\/index.php\/wp-json\/wp\/v2\/tags?post=1321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}