It’s starting to show up in articles and in the news but what exactly is the Silver Tsunami?
“Silver Tsunami” is a term used to describe the demographic shift that is occurring as the baby boomers—those born between 1946 and 1964—age. This aging of this large generation is creating both opportunities and challenges for society.
It will have a profound impact on things such as:
- Health care & long-term care costs
- Social Security strains
- Workforce shifts
- Transfer of wealth
The Silver Tsunami will also have an impact on real estate. Baby Boomers are aging out of their homes and downsizing. As a result, many of their homes will hit the real estate market.
For homebuyers, the anticipated influx of homes could significantly affect housing supply. Since baby boomers are often looking to downsize and not buy another home after selling, the market may see more available properties, helping to balance supply and demand. This could ease competition for younger buyers, stabilizing home prices and creating more affordable opportunities for those looking to buy.
While the full effects of the Silver Tsunami may take several years to unfold, it’s expected to gradually increase housing inventory, which could help address the current shortage.
Want to know more, contact us here at Atlanta Seniors Real Estate. We’re happy to answer any questions you may have.
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