By Jann Swanson | Mortgage News Daily
In the second part of the Harvard Joint Center for Housing Studies’ latest update on The State of the Nation’s Housing, the authors look at the nation’s demographics and how they currently affect housing and will do so in upcoming years.
This Center’s report, as many other housing students, points to the sluggish pace of household growth which has languished in the 600,000 to 800,000 range for several years. This is well behind previous decades when the average has been over 1 million. Much of this can be attributed to younger adults who because of the economy have continued to live with their parents, continue their education, or share housing with friends. The report extrapolates that there may be 1.1 million fewer households among persons in their 20s than history would predict.
