For the Boomer generation, the real estate landscape appears to have taken a downward turn.

For years, older Americans have been drawn to Florida, lured by its sunny climate and the allure of affordable living costs. However, the anticipated wave of buyers who would eventually purchase their homes—allowing them to retire with financial ease—seems to be dwindling.

Younger generations are grappling with soaring living expenses, job cuts, and economic uncertainty. This has led many to postpone retirement or reconsider what it means altogether. This trend is now clashing with a mass of Boomers eager to sell their retirement homes, which they once counted on to finance their golden years.

Chey Eisenman, an expert in housing and relocation, points out that many retirees are just beginning to realize the gravity of the situation.

“Who are the Boomers expecting to sell their retirement homes to?” Eisenman questioned in a recent TikTok video.

‘Who are the boomers expecting to sell their retirement homes to?’ Eisenman said in a video on TikTok. 

Boomers — now roughly between the ages of 62 and 80 — bought homes in places like Florida and Arizona assuming demand would always be there.  They mistakenly thought they could later sell them at a profit, but plan isn’t working for a few reasons.

To start, Eisenman says that Boomers who list their homes are shocked that no one wants them. At least not at the prices Boomers are asking.

Rows of aging condo towers dominate Fort Lauderdale’s barrier islands, where listings have flooded the market but no one is buying them

An example of older condos having a hard time selling are at Hunters Run Country Club, where even with with access to a resort-style pool and high-end amenities a condo was listed for $49,900

While Boomers are stuck with old condos, younger generations plan on retiring in places in Mexico, and want more of the vibe seen here, which is newer with upgrades

‘Their place isn’t worth as much as they thought it was, and nobody wants to buy,’ Eisenman said.

‘Many have lowered their price significantly, and they still have no interest and no buyers and no takers.

‘They’re starting to panic because they can’t figure out why nobody wants it.’

Eisenman frequently has to explain to Boomers that the next generation’s retirees have other plans. 

The soon-to-retire generation who can afford to buy a retirement home are ‘not even looking in places like Florida or Arizona,’ and instead are searching the world. 

‘They are looking at places like Costa Rica, Panama, Portugal, Mexico,’ she said.

‘They are not looking at Florida and Arizona.’

Many people have to keep working after experiencing layoffs and are ‘unable to secure new employment.’

TikTok housing expert Chey Eisenman said many of these retirees are only just now waking up to how dire the situation really is

Owners who have older condos that need upgrades and repairs are left with homes worth nearly nothing

Sellers and buyers have better luck with new condos, like this one in the Gulf that is new. Older condos just aren’t selling anymore and Boomers are stuck with them

One client of hers who travels back and forth from the US to Costa Rica was planning on buying retirement property there, but was forced to he put a purchase on hold after a lay off.

Still, Eisenman says the client ‘wasn’t shopping in Florida’ and will never shop in Florida.

The problem is so bad, she said, that she does not know what will come of older, outdated retirement communities like Florida’s The Villages, which is filled with Boomers.

‘What is it, 350,000 homes in the middle of nowhere Florida?’ she said.

‘Is that gonna be low income housing at some point? Is it gonna be underwater in the future?

‘Like, who’s gonna live in The Villages once the Boomers are no longer on this earth?’

Eisenman said despite being unable to sell, Boomers remain unaware of just how out of step their thinking is with the state of the current housing market.

‘They just seem completely shocked and oblivious that the market is not what they thought it was,’ she says.

Much of Florida has been vulnerable to storms that have taken a toll on older condos that people are trying to sell

Younger retirees plan on a future in newer builds like this in Panama, where they won’t face an aging condo crisis

Pictured: Florida realtor Jeff Lichtenstein 

While the housing market in some areas is still largely dominated by Boomers, many younger generations are simply not buying homes. Many Boomers sell to other Boomers, a ‘dwindling group,’ Eisenman said.

But in Florida, housing inventory has hit record highs, and houses in active adult communities in the state are just sitting on the market.

‘The condo market in some areas have hit bottom,’ local realtor Jeff Lichtenstein told Daily Mail.

‘Many condos are underwater, and they will end up getting sold to investors and being knocked down.’

Eisenman said that many younger people are also planning to retire abroad.

‘As you likely know, Gen Jones and Gen X would rather travel to varied places than live in one place in retirement. And if one place, likely abroad,’ she said.

‘They also believe in climate change and don’t want to invest a dollar in Florida.’

While middle class Boomers have a lot of their assets tied up in their home or retirement place, they’ve also been hit with additional costs due to natural disasters.

Members of the Florida Army National Guard check for any remaining residents in nearly-deserted Bradenton Beach, where piles of debris from Hurricane Helene flooding still sits outside damaged homes ahead of the arrival of Hurricane Milton. No one wants the once damaged condos now

Florida condo owners have had to repair and rebuild after storms, leaving areas undesirable and condos sitting on the market worth little to nothing now

‘Many have been hit by hurricanes or assessments in Florida and may not have the cash reserves to handle those extra costs,’ she said.

‘In some cases the insurance is pushing them out and forcing them to sell. One of our Punta Gorda Boomers in a modular have been hit with three hurricanes recently. Three. Oofta.’

Florida’s condo slump is now the worst since the 2008 financial crisis. 

Across the state, condo values are down 9.9 percent over the past 12 months of 2025, according to new data shared by housing analyst Nick Gerli. It’s the steepest one-year drop since 2009.

Florida houses roughly a fifth of all US condos, and the drop in condo prices comes as inventory has surged. Buyers are bombarded with options.

Many condo owners are selling due to skyrocketing homeowner association fees and high insurance premiums, if they can even get insurance at all.

Boomers with big homes are also seeing a problem. They don’t realize many people don’t want huge spaces anymore.

‘Boomers think their 90’s aesthetic suburban monster home is worth more than it is, and also don’t realize buyers not only can’t pay the price they want, but won’t for something that dated,’ Eisenman said.

‘Those who can? Will buy newer construction or a smaller remodeled in the city or first ring suburb.’

Commenters agreed with her, with one writing, ‘Buying a home you can’t insure in a state that’s sinking would be wild.

Another wrote, ‘GenX – a second home for me would be in France or Portugal. Never Florida or Arizona.