We don't see a glut coming. This turnover trickles out over many years rather than hitting all at once. Three things work against the flood scenario: - 55 isn't old the way it was a generation ago, and a steady stream of people keeps crossing into that age and moving into 55-plus communities. Those neighborhoods refresh as they turn over. - Owners are staying in their homes longer and in better health, aging in place rather than exiting on any predictable schedule. On one street you might see two owners pass within a few months, one home fixed up to rent while the surviving spouse simply stays in the other. Real turnover, but slow. - Inherited homes don't all return as 55-plus listings. Some pass to family members who move in themselves, often people who couldn't otherwise afford to buy, and some resell into the general market rather than back into the age-restricted pool. Add it up and you get a gradual release of inventory absorbed as it comes. Demographic shifts are real, and they play out slowly enough that the market has time to digest them.