I believe that you are correct in your assessment of the situation.
There will probably be so many empty houses as the babyboomers start dying off that you will probably just walk into one and see if anyone lives there before setting up shop.
In the "working era" as opposed to the "knowledge era" people got too old to do their jobs.
And now, since all of our families have been broken up by the nuclear family -> single mother social plans, there is nothing of the old method which gave elderly their place in society.
The babyboomers gave birth to latch-key kids. Technically abandoned them, and now, when they are entering retirement, they will reap what they sow.
I think you are correct @rohansharan, but I do not know how things are going to transpire. That whirlwind that is coming for the babyboomers... but I can see that the millennials are already making a new way.