[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fi8gtidq5oqxb":3,"$fbwk2pqjjqsc7":43},{"item":4,"previous":31,"next":37},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":29,"updatedAt":30},48087,"boomers-moving-will-be-more-like-a-gentle-tide-than-a-tsunami","Boomers Moving Will Be More Like a Gentle Tide Than a Tsunami","\u003Cp>Have you heard the term “Silver Tsunami” getting tossed around recently? If so, here’s what you really need to know.\u003C\u002Fp>","","blog","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240401\u002F20240404-Boomers-Moving-Will-Be-More-Like-a-Gentle-Tide-Than-a-Tsunami.png","\u003Cp>Have you heard the term “Silver Tsunami” getting tossed around recently? If so, here’s 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 \u003Ca href=\"\u002F2024\u002F03\u002F15\u002Fthe-latest-trends-in-housing-infographic\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">housing\u003C\u002Fa>. That’s 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.\u003C\u002Fp>\u003Cp>But here’s the thing. There are a couple of faults in that logic. Let’s break them down and put your mind at ease.\u003C\u002Fp>\u003Ch4>\u003Cstrong>Not All Baby Boomers Plan To Move\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>For starters, plenty of baby boomers don’t plan on \u003Ca href=\"\u002F2024\u002F03\u002F08\u002Fthe-spring-market-is-a-sweet-spot-if-youre-looking-to-sell-infographic\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">moving\u003C\u002Fa> at all. A \u003Ca href=\"https:\u002F\u002Fwww.aarp.org\u002Fcontent\u002Fdam\u002Faarp\u002Fresearch\u002Fsurveys_statistics\u002Fliv-com\u002F2021\u002F2021-home-community-preferences-chartbook.doi.10.26419-2Fres.00479.001.pdf\" rel=\"noopener noreferrer\" target=\"_blank\">study\u003C\u002Fa> from the \u003Cem>AARP\u003C\u002Fem> says more than half of adults aged 65 and older want to stay in their homes and not move as they age (\u003Cem>see graph below\u003C\u002Fem>):\u003C\u002Fp>\u003Cp>\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240401\u002F20240328-60-percent-of-adults-age-65-expect-to-stay-in-their-home-as-they-get-older.png\" rel=\"noopener noreferrer\" target=\"_blank\">\u003Cimg src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240401\u002F20240328-60-percent-of-adults-age-65-expect-to-stay-in-their-home-as-they-get-older.png\" alt=\"a pie chart with text\">\u003C\u002Fa>\u003C\u002Fp>\u003Cp>While it’s true circumstances may change and some people who don’t plan to move (\u003Cem>the red in the chart above)\u003C\u002Fem> may realize they need to down the road, the vast majority are counting on aging in place.\u003C\u002Fp>\u003Cp>As for those who stay put, they’ll likely modify their homes as their needs change over time. And when updating their existing home won’t 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 \u003Cem>Inman\u003C\u002Fem> \u003Ca href=\"https:\u002F\u002Fwww.inman.com\u002F2024\u002F01\u002F19\u002Fwhat-experts-have-right-and-wrong-about-the-silver-tsunami\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">explains\u003C\u002Fa>:\u003C\u002Fp>\u003Cblockquote>\u003Cem>“Many boomers have no desire to retire fully and take up less space . . . \u003C\u002Fem>\u003Cstrong>\u003Cem>Many will modify their current home, and the wealthiest will opt to have multiple homes.”\u003C\u002Fem>\u003C\u002Fstrong>\u003C\u002Fblockquote>\u003Ch4>\u003Cstrong>Even Those Who Do Move Won’t Do It All at Once\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>While not all baby boomers are looking to sell their homes and move – the ones who do won’t all do it at the same time. Instead, it’ll happen slowly over many years. As \u003Cem>Freddie Mac\u003C\u002Fem> \u003Ca href=\"https:\u002F\u002Ftwitter.com\u002FFreddieMac\u002Fstatus\u002F1763285511442166042\" rel=\"noopener noreferrer\" target=\"_blank\">says\u003C\u002Fa>:\u003C\u002Fp>\u003Cblockquote>\u003Cem>“\u003C\u002Fem>\u003Cstrong>\u003Cem>We forecast the ‘tsunami’ will be more like a tide\u003C\u002Fem>\u003C\u002Fstrong>\u003Cem>, bringing a gradual exit of 9.2 million Boomers by 2035 . . .”\u003C\u002Fem>\u003C\u002Fblockquote>\u003Cp>As Mark Fleming, Chief Economist at \u003Cem>First American\u003C\u002Fem>, \u003Ca href=\"https:\u002F\u002Ffinance.yahoo.com\u002Fnews\u002Ftides-changed-housing-market-experts-113000181.html\" rel=\"noopener noreferrer\" target=\"_blank\">says\u003C\u002Fa>:\u003C\u002Fp>\u003Cblockquote>\u003Cem>“\u003C\u002Fem>\u003Cstrong>\u003Cem>Demographics are never a tsunami. \u003C\u002Fem>\u003C\u002Fstrong>\u003Cem>The baby boomer generation is almost two decades of births. That means they’re going to take about two decades to work their way through.”\u003C\u002Fem>\u003C\u002Fblockquote>","\u003Cp>If you're stressed about a Silver Tsunami shaking the \u003Ca href=\"\u002F2024\u002F02\u002F27\u002Fwhy-todays-housing-supply-is-a-sweet-spot-for-sellers\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">housing market\u003C\u002Fa> overnight, don't be. Baby boomers will move slowly over a much longer period of time.\u003C\u002Fp>","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240401\u002F20240328-60-percent-of-adults-age-65-expect-to-stay-in-their-home-as-they-get-older.png",false,[17,21,25],{"id":18,"name":19,"slug":20},34,"Senior Market","senior-market",{"id":22,"name":23,"slug":24},320,"Inventory","inventory",{"id":26,"name":27,"slug":28},327,"Forecasts","forecasts","2024-04-04T10:30:00Z","2024-04-11T20:29:00Z",{"id":32,"slug":33,"title":34,"featuredImage":35,"publishedAt":36,"contentType":10,"isVideo":15},47687,"newly-built-homes-could-be-a-game-changer-this-spring","Newly Built Homes Could Be a Game Changer This Spring","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240327\u002F20240403-Newly-Built-Homes-Could-Be-a-Game-Changer-This-Spring.png","2024-04-03T10:30:00Z",{"id":38,"slug":39,"title":40,"featuredImage":41,"publishedAt":42,"contentType":10,"isVideo":15},48107,"top-5-reasons-to-hire-an-agent-when-buying-a-home-infographic","Top 5 Reasons To Hire an Agent When Buying a Home [INFOGRAPHIC]","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240401\u002FTop-5-Reasons-To-Hire-an-Agent-When-Buying-a-Home-KCM-Share.png","2024-04-05T10:30:00Z",[44,48,52,56,60,64,68,72,73,77,81,85,89,93,97,101,105,109,113,117,118,122,126,130,134,138,142,143,147,151],{"id":45,"name":46,"slug":47},1,"Uncategorized","uncategorized",{"id":49,"name":50,"slug":51},5,"For Buyers","buyers",{"id":53,"name":54,"slug":55},6,"For Sellers","sellers",{"id":57,"name":58,"slug":59},7,"Foreclosures","foreclosures",{"id":61,"name":62,"slug":63},8,"Infographics","infographics",{"id":65,"name":66,"slug":67},9,"Home Prices","home-prices",{"id":69,"name":70,"slug":71},11,"First-Time Buyers","first-time-buyers",{"id":18,"name":19,"slug":20},{"id":74,"name":75,"slug":76},35,"Mortgage Rates","mortgage-rates",{"id":78,"name":79,"slug":80},38,"Move-Up","move-up",{"id":82,"name":83,"slug":84},41,"For Sale by Owner","for-sale-by-owner",{"id":86,"name":87,"slug":88},42,"Featured","featured",{"id":90,"name":91,"slug":92},45,"New Construction","new-construction",{"id":94,"name":95,"slug":96},52,"Luxury \u002F Vacation","luxury--vacation",{"id":98,"name":99,"slug":100},53,"Rent vs. Buy","rent-vs-buy",{"id":102,"name":103,"slug":104},80,"Time-sensitive","time-sensitive",{"id":106,"name":107,"slug":108},81,"Outdated","outdated",{"id":110,"name":111,"slug":112},147,"Internal","internal",{"id":114,"name":115,"slug":116},148,"Do Not Autopost","do-not-autopost",{"id":22,"name":23,"slug":24},{"id":119,"name":120,"slug":121},321,"Agent Value","agent-value",{"id":123,"name":124,"slug":125},322,"Affordability","affordability",{"id":127,"name":128,"slug":129},323,"Buying Tips","buying-tips",{"id":131,"name":132,"slug":133},324,"Downsize","downsize",{"id":135,"name":136,"slug":137},325,"Economy","economy",{"id":139,"name":140,"slug":141},326,"Equity","equity",{"id":26,"name":27,"slug":28},{"id":144,"name":145,"slug":146},328,"Selling Tips","selling-tips",{"id":148,"name":149,"slug":150},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":152,"name":153,"slug":154},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]