“I often thought of the number of SFH occupied by retired persons was a risk but as I realize that many of them will live to be 80+ perhaps 90, the day of reckoning seems to be a bit further off than I’d thought a few years ago.”

Agree, and something I’ve mentioned on other threads is the fact that we, as well as everyone we know and talk to (especially in CA) plan to pass all of their properties on to their families.

Most have continued to acquire more property–especially during the
recession–but I know very few people who have sold any of their properties in at least the past 10 years, maybe longer, so we’ll also have to see what impact that aspect may have in years to come.