Boomers are starting to look into options for freeing up equity for retirement, and considering most Americans entering retirement have two-thirds of their assets in their homes, it's no surprise boomers are actively selling their larger family homes for smaller, more affordable homes.
At this point, boomers and millennials are competing over the entry-level housing supply, but while millennials are leaving the renter world, boomers are putting their houses up for sale and could flood the market with existing homes. Yet, with the age span of boomers reaching from 52 to 70 years old, it could be several years before we see the flood really begin.
The main hope is that boomers downsize at a constant pace over the next 15 years, in hopes that the oldest millennials can start to buy the product the younger boomers are selling. Otherwise, Gen Xers may once again fall into a housing problem as they were caught in during the 2008 financial crisis.