Kathleen Madigan takes a look at new research that considers the shift in America's living situations, and what it means for consumer behavior.
With the recent collapse of the housing market on one hand and an ever-tighter rental market on the other, Americans are finding it increasingly difficult to keep a roof over their heads. Even so (or is it accordingly?), the majority of Americans still aspire to own their own home, according to a recent study by the Demand Institute, an arm of the U.S. Conference Board.
Entitled "The Shifting Nature of U.S. Housing Demand," the report suggests that the housing sector is ready to turn around – but that it won't be back to business as usual, even after prices pick back up.
"The first stage of this recovery will be led by rental properties," Madigan explains. "Past homeowners who lost their houses to foreclosure, young adults who are now living at home or who haven't saved a down payment, and new immigrants will drive the demand to lease rather than to buy."
"Homeownership isn't dead, however, argued Louise Keely, chief research officer at the Institute and one of the study's authors. It will simply be delayed, because consumers are still repairing their finances, and reconfigured, because big is no longer better in housing."
What's more, tenants and prospective homeowners are beginning to realize they can't afford to occupy such large spaces, even in the suburbs, where lower prices are offset by the cost of driving long distances. Smaller homes mean new spending habits, as consumers realize they don't have the room for a home gym or a storage room, and turn to businesses to fill the gap. "Almost every consumer-facing industry will feel this effect as consumers adapt," the report argued.
FULL STORY: Housing’s Future: Renting and Downsizing

Rethinking Redlining
For decades we have blamed 100-year-old maps for the patterns of spatial racial inequity that persist in American cities today. An esteemed researcher says: we’ve got it all wrong.

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Walmart Announces Nationwide EV Charging Network
The company plans to install electric car chargers at most of its stores by 2030.

Knoxville Dedicates $1M to New Greenway
The proposed greenway would run along North Broadway and connect to 125 miles of existing trails.

Philadelphia Launches ‘Speed Slots’ Traffic Calming Pilot
The project focuses on a 1.4-mile stretch of Lincoln Drive where cars frequently drive above the posted speed limit.

NYC Delivery ‘Microhubs’ Aim to Cut Down on Truck Pollution
The hubs are designed to provide parking for large delivery trucks, which can pass on their cargo to bikes or other zero-emission vehicles.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
City of Moorpark
City of Tustin
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
Regional Transportation Commission of Southern Nevada
Toledo-Lucas County Plan Commissions