Industry News

Demographics determine real estate destiny

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

The U.S. Census Bureau last week predicted that the population of the United States will expand 49 percent from 282 million residents four years ago to 420 million people 45 years from now. Let's face it: Housing 420 million people is not going to be easy. We need to be open to new housing ideas, we need to find better housing solutions than we've tried thus far, and we need to think–and act–soon. Indeed, the Census Bureau also said the faster rates of population growth will occur in the earlier years of the 45-year period. Long-term demographic predictions are always a bit iffy, but let's assume the Census Bureau's number-crunchers overestimated the total future population. It really wouldn't matter because 380 million or 390 million instead of 420 million would still be a huge number. And if they've erred, as they have in the past, on the conservative side, we could be talking about housing more than 420 people. Take an Inman News survey on housing availability. Whe...