What we see is that the older Northeasterners keep their homes, buy a 2nd home down here in Florida. However, they have no intention of permanently moving south. Ultimately, they sell the Florida home and return home permanently to be around the kids, grandkids, and to have someone who can come and look in on them from time to time.
The people who are moving a lot are 20-45 YOs for employment. You hit 45, you start to stay put pretty much.
Housing shortage is NOT based on the gray hairs not selling but OMG land use controls stopping new development in many states, municipalities. For example, California has made it horribly expensive to even remodel a home, let alone build new.
In NYC property taxes, scool taxes in particular are an issue. Seniors, especially those getting a variety of tax breaks, can often better afford them than younger folks.
And that is the 800lb gorilla that no one talks about. The development cost has skyrocketed in the last decade or so. Liberals have used it to fight "sprawl" (is it government's job to determine where you live?). And other government types who want to strangle the goose to get it to lay one more golden egg.
Developer fees are directly passed on to those who wish to build a home and these fees have gotten into the nosebleed territory, and yet very few people even know about it.
>> Housing shortage is NOT based on the gray hairs not selling
The trend is no doubt related to the economic instability that plagued the Country for the last 10 years.
We property owners benefit from the sellers’ market, but ultimately we want the young ones to establish personal property investments.