(Editor’s note: Opinion pieces are published for discussion purposes only.)
Housing policy experts are convening next week at the J. Ronald Terwilliger Foundation’s annual conference in Detroit to explore answers to a simple question: how do we create a housing economy that best serves America’s evolving housing needs?
We know that Americans’ aspirations haven’t changed. Millions of Americans continue to want and plan to own a home, just like generations before.
But as a country, our housing needs are changing. Millennials are delaying major life decisions, like getting married, having kids and buying a home; or, they are constrained financially by student loan debt. Baby boomers are looking to retire and downsize, or don’t want to be tied down by a home or a mortgage. And many Americans are continuing to rebuild their credit in the aftermath of the financial crisis and can’t easily get a mortgage.