[ghaff]

>I am surprised the baby boomers aren't downsizing in droves at this point.

Based on people I know, I think a lot of it is that if you own a typical suburban/exurban house and you have the house like you want it, you like the location, you have friends in the area, etc., for many, it's just not worth the trouble/expense of moving even if they could potentially downsize. The exceptions that come to mind are a few people who wanted to move to a warmer climate and/or adopt an urban lifestyle with their kids out of the house.