Were obviously speculating, but if 10 years ago a boomer retired in in say Boston to move to Florida, there job opened up for another person to take, and hence buy a home.
Now lets say that same person is living in the Villages and passes away. They left no job. There are no jobs in the villages You need a retiree to buy that home. Except there are not enough younger people to retire, and those that are that age as a group have far less money. Presumably the boomers will leave their money to the millenials. Are a bunch of millennial children going to move to the Villages and retire at 50?
This is from 2020 - last census - so add 4 years. The biggest Boomer group is now 59 to 64. They haven't even retired yet. So this story you mention has yet to play out. You can see a related affect already - the serious shortage of skilled labor is a direct reflection of retiring boomers with too few people below them. Its not the only reason, but its the over-riding reason.
Now look at the smallest group for a while - which will be 49 - 54 as of today. When this group is ready to retire in lets say 15 years - the biggest group above will be at that phase that they will be needing to pass their house along. But there won't be enough of them - just like there are not enough of us to take there jobs today.
I don't believe this story has played out anywhere yet. Its just getting started. Its always possible it gets thwarted - more immigration, longer life expectancy, etc. But it will take something outside the usual to stop it.
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