The long term outlook for housing demand is good! Several national studies suggest we have already hit bottom.
A new (2008) study from the Joint Center for Housing Studies of Harvard University finds "the country poised to see an increase in housing demand throughout the next decade.
"We still have a growing population," said Nicolas Retsinas, director of the Joint Center for Housing Studies and one of the study's authors. "As long as you have more households, more people are going to need places to live."
Social trends - people getting married later and divorced more often - are making single-person households the fastest growing household type, the study finds. A long-term net increase in potential home buyers will be driven by demographic factors: the aging of "echo boomers" into adulthood, an increased life expectancy for baby boomers* and projected annual immigration of 1.2 million.
From 2010 to 2020, the number of households in the United States will grow by an average of more than 1.4 million per year, the study finds.
Related Articles:
Reverse mortgages help stabilize housing market *
Is real estate still a good investment?
Declining home values may have begun to stabilize
Mortgage Humor - Trust your Mortgage Advisor?
visit my website today!
www.MortgageAdvisor.info m& www.GregZaccagni.com
Comments (2)Subscribe to CommentsComment