The boomers, who own 25% of the housing market, are about to move into retirement homes, or mortuary plots.

Boomers have children.

Sold my property of 38 years for a 10x profit last year and used some of the monies to buy a house for my daughter and son-in-common-law. If the old property had not been sold then they would have inherited it.

That's the same for many Boomers is my guess. There will be many defaulting on mortgages, to be sure, and many condominiums that are worth less than the owner had paid for it. However single family properties are not likely to fall in price much with maga corps like Blackrock buying them up. Property values are all about location; so there will be a great deal of fluctuation over different markets yet in Canada, at least, with the mass immigration that has been underway of late the demand is not likely to subside in some time. That's one old Boomer's thoughts anyway.