How Aging in Place Contributes to the Housing Shortage
- sarahgwiz21
- Aug 21
- 2 min read
Think about your grandma’s house in the country—the one with the wrap-around porch, the big yard where you used to pick tomatoes. Now imagine she never leaves. Multiply that by a million, and you’ve got a big part of what caused the housing shortage we have today.
Plenty of baby boomers and retirees are choosing to keep their homes—maybe forever—and that’s tightening the housing market more than just mortgage rates or builders’ supply could.
According to a recent Redfin-commissioned survey, about a third of baby boomers who own their homes say they’ll never sell, while another third might sell… but not for at least a decade. That’s nearly two-thirds of boomers staying put for the long haul.
The older Silent Generation is even more rooted—almost half say they’ll never give up the family homestead .
So what’s making these homes “stall in place”? Here’s what baby boomers are saying:
“I just like my home”—over half say this is their top reason.
About a third have their home nearly—or fully—paid off, making the move financially unnecessary.
Nearly 16% say today’s home prices are just too high to upgrade or change.
And less than 10% don’t want to give up that sweet, low mortgage rate they locked in years ago.
This slow turnover means less options for younger families and rising costs. Although mortgage rates are cited as an affordability factor for young families, even if the mortgage rates drop, the supply may not catch up. The result is more competition, higher prices and less availability of desirable homes.
Will the housing shortage end? Truth is—nobody has a crystal ball. More homes are being built, interest rates will eventually shift, and yes, some boomers will downsize or pass along their homes. But at the same time, new generations are coming of age, families are growing, and life keeps creating fresh demand for housing. The market isn’t static—it’s always adjusting. What we do know is that opportunities pop up in every kind of market, and the key is being ready to move when the right one comes along.
At the end of the day, while no one can predict exactly when the housing shortage will ease, buyers and sellers still have real opportunities—especially here in the Capital Region. Compared to other crowded markets, upstate NY still offers some of the most affordable housing you’ll find in New York, with the bonus of wide-open spaces, strong communities, and that small-town charm mixed with city convenience. It’s no wonder so many people say upstate NY is the best place to live.
If you’re thinking about buying or selling, you don’t have to navigate today’s changing market alone. I'm your local real estate guide for the Capital Region, and I know how to spot the right opportunities and help you make the most of them. Whether you’re looking for your first home, a place to grow, or a chance to downsize, I'm here to help you find your fit in a market that can feel overwhelming without the right guidance.
Sarah Gwiazdowski
Real estate agent/investor
20+ Years Experience
(518) 588-6736
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