The media meme, which has since launched into social media and a war on “baby boomers”, says we have a housing shortage because “Baby Boomers” are not downsizing and moving into smaller homes.
That assertion is easily disproved.
Most people age 65+ are already living in smaller homes, per the data.
- In 1970, 91% of elders (age 65 and +) lived in their own home or that of a family member.
- In 2025, an estimated 94% of elders live in their own home or that of a family member.
- In 2000, this was 93% – there has only been a 1 percentile increase in 25 years – this does not explain our housing situation today.
The idea of outsourced/institutional elder care is a relatively new in recent decades and has seen an expansion in elder home and specialized care facilities.
The NAR put this odd item on their LinkedIn Page – saying “Boomers” are not downsizing, when their chart shows that many are downsizing. The overall “baby boom” is currently about age 62 to age 80, meaning most are in the upper age groups in this chart.
A bigger problem with this chart is that it bundles age 61-70 as a group – yet the average age of retirement in the US for women is 62-63 and for men is 65-65. Many may choose to move once no longer tied to a job. A 2025 Transamerica report says 38% of retirees will eventually move – but does not give a time frame. Other reports say about 1 in 4 will move within 5 years of retirement.. (How Many People Downsize Their Home for Retirement?), A related issue is how does this compare to the past – did everyone downsize upon retirement in the past?
But none of the above has anything to do with the huge rise in home prices since public health mangled the Covid response. (Hint – public health nonsense and the government’s response in expanding the M2 money supply for 42% since 2020 has a lot to do with devaluing the $, causing real assets to cost more in terms of devalued dollars.)
