True Stories: Hybrid, eNote and RON Implementation

Join expert panelists that will discuss the status of federal legislation, trends in digital adoption and how best to prepare your organization for the next generation of lending processes.

Spruce’s Patrick Burns on innovation in title technology

In the season finale of Housing News season 5, Spruce CEO discusses heightened investor interest in title tech, innovation and fintech adoption.

Top CFPB official “hates” QM rules, jeopardizing safe harbor

A top CFPB official in charge of the rule-making process has heavily criticized the agency's own qualifying mortgage rule, jeopardizing safe harbor.

Don’t sleep on non-QM products

Now is the perfect time for originators to consider expanding to non-QM products – to grow business, diversify their offerings and to ensure an opportunity to better serve their customers.

Real Estate

Zillow says housing market will open up after “Silver Tsunami”

Baby Boomers make up for a third of the housing market

Although housing inventory may be a little slim these days, Zillow says it expects for Baby Boomers to open the housing market back up as they vacate their homes over the next two decades.

About a third of homes in the U.S. are owned by those who are 60 and older. In the 2020s and 2030s, Zillow expects this generation will create a “Silver Tsunami,” allowing for more homes on the market as they move out of those homes.

And according to Chase, 76% of Baby Boomers own their own homes.

Between 2007 and 2017, Zillow says nearly 730,000 U.S. homes were released back into the market each year by seniors age 60 or older. From 2017 to 2027, that number is expected to rise to 920,000 and 1.17 million per year, respectively.

Basically, more than 27% of today’s owner-occupied homes will be available by 2037.

Housing released by the “Silver Tsunami” is expected to reach as many as 20 million units. Zillow says this could be a similar event to the new home construction during the 2000s boom-bust cycle.

It’s become more popular for Boomers to stay put, get a roommate and or even downsize to be able to afford housing, all to be able to age in place.

And as there are more Boomers living in single-family homes, retirement communities are also expected to see a drop in residents over the next 20 years.

Boomers have created what seems like a gridlock in the housing market by staying in place, but that could begin easing soon.

Most Popular Articles

Volume-hungry mortgage lenders loosen credit standards

Mortgage credit availability loosened up in April by 2.2%, per the MBA. The drivers were in conventional mortgages and GSE programs for ARMs and high-balance loans.

May 11, 2021 By

Latest Articles

Genworth mortgage insurance arm IPO on ice

Genworth Financial said it will delay the initial public offering of its recently rebranded mortgage insurance arm, Enact Holdings.

May 13, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please