Boomers won't let go of their homes

A shortage needs to be measured against demand. I actually agree with you that there isn't enough inventory to keep prices at historical levels... but is that what you have been saying all along? I don't think you were. I believe that you were saying there is a housing shortage "in general", which is not the same thing. There are plenty of houses to buy, but they are typically not affordable in relation to current wages. That's not the same thing as saying there is a shortage of houses, point blank. It's nuance, but language is important.

Your diaper example isn't in line with today's housing market situation. Two different scenarios.

 

Both of these statements are absolutely true.

 

A lot of Boomers had to deal with lead paint, aluminum wiring, and a lot of other issues with their first houses, in addition to the high interest rates. And their house might be built on an EPA Superfund site with buried chemicals, if they were in the northeast (like Buffalo or Cleveland areas). Other issues could include losing their father and uncles in WWII, or having to fight in Vietnam. A little hard to build generational wealth or a college fund in those days without a father.