Jinxin Real Estate News: The impact of the elderly, young people on house prices

Jinxin Real Estate News: The impact of the elderly, young people on house prices Old people born in the baby boom, and now children, will have an impact on the country’s housing prices in the next 20 years...

Jinxin Real Estate News: The Impact of Old People, Young People on House Prices Older people born in the baby boom, as well as today’s children, will have a significant impact on the country’s real estate development trends in the next 20 years. In a new report, "Demographic Challenges and Opportunities in the U.S. Housing Market," researchers looked at trends in demographic data to predict the future impact of housing, as well as homeownership rates. The number of middle-aged and elderly Americans born by baby boomers, those aged 65 and over, will increase by 300,000 in the future. The demographic transition may be beneficial to housing supply, because people over 65 years old usually occupy more houses than their own consumption capacity. "The Northeast and Midwest are most likely to see a large number of older owners selling to younger owners," said Lawrence Yun, chief economist for the National Association of Realtors. This increase in supply may mean more buying opportunities for young people. The younger generation will absorb 75-80% of the inventory by 2020. The younger generation includes nearly 650,000 people born between 1981 and 1995. The National Association of Realtors' analysis illustrates the needs of this generation, "housing, employment and the economy are inseparable," Yun said. "A strong recovery with good housing market conditions will encourage substantial growth in young households, which will help absorb the current vacancy stock and stabilize residential building conditions. In the case of a reasonable market recovery, about 120,000 new households will be formed over the next decade, requiring the construction of 150,000 new public housing units." Meng Veissi, president of the National Association of Realtors, noted that "as the supply of rental housing will continue to decline, rents will increase," he said. "At the same time, buyers of owner-occupied houses with rigid demand will also increase." For more real estate news, please contact Gold Trust Realty Tinna at 480-287-0180 E-mail: goldtrustrealty2010@gmail.com.