During the Yahoo Finance Invest Conference, Meredith Whitney, who accurately predicted the 2008 financial crisis and became known as “the Oracle of Wall Street,” said that housing prices will fall in 2024 due to a “silver tsunami” of baby boomers who are expected to downsize in the coming years.

More than 30 million units of housing are expected to be brought onto the market as 51% of people over 50, who own more than 70% of U.S. homes, downsize to smaller homes.

It’s been a challenging time for hopeful homebuyers amid soaring prices and mortgage rates, but a little bit of good news might be around the corner.

Highlighting estimates from AARP, Whitney said that over 51% of individuals aged 50 and above, who own more than 70% of U.S. homes, are projected to move into smaller residences. This downsizing trend could result in over 30 million units of housing being brought onto the market.


Every year another expert rages on about the silver tsunami, mostly based on antiquated beliefs that seniors will all downsize – but it’s different now, especially around San Diego.

If seniors are downsizing, they need to leave town to make it worth moving. Here’s how the local populations have changed in a recent 2-year period – it’s hardly been an exodus, and it also suggests that there are new incoming residents who are filling the gap:

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