Steep Decline in Homeownership, Home Building Predicted
A new report shows that as the population of the U.S. ages, it is likely that more people will rent than own homes, causing a steep decline in the home building industry.
The report is from the Metropolitan Research Center at the University of Utah, and is called "The New Urbanity: The Rise of a New America" (not available online as of 8/10/09).
The concludes that the homeownership rate will fall to 63.5% by 2020.
"This has significant implications for planning and homebuilders. If Nelson is correct, there will be a dramatic shift towards a "new urbanity" and away from suburbs. And also a shift towards more renting."
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Published on Sunday, August 9, 2009 in
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