The growth of household formation is a good indicator for the continue recovery of the housing industry.
"The United States will add 13.6 million households between 2015 and 2025 and another 11.5 million households between 2025 and 2035, according to Updated Household Projections, 2015-2035: Methodology and Results, a new Joint Center working paper."
Dan McCue explains some of the key findings and arguments of the study, including the claim "that the projected growth in households could lead to continued growth in residential construction activity."
Over the next two decades, most of the growth in the number of households will come from minorities and Millennials and Baby Boomers will "bring the number of senior households up to unprecedented heights," explains McCue. The article includes more insight into the study, supplemented by helpful infographics. The study confirms a trend that emerged as recently as 2015, when household formation finally began to overcome the doldrums of the Great Recession.
Read the full story: Projection: US Will Add 25 Million Households by 2035
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