Do you know the average age of an assisted living resident?
It is 82 years old.
The boomer effect that you describe will happen but it is going to take a long time—not much help for current home-buyers.
It is happening now.
At least in my area.
A lot of boomers are trying to cash out of huge houses, and can’t find buyers.
So a front company comes in and offers a low ball price, and takes the house off the market. Meanwhile younger Mills and Z’s can’t find apartments that they can afford to rent.