Mish’s Global Economic Trend Analysis: Multigenerational Households On Rise; Boomerang Students Return Home; What’s the Impact on Housing Demand?
2010 Census Population Numbers
What’s the Impact on Housing Demand?
According to data from Table 2 (above) of the 2010 Census, there are approximately 62.65 million people in the 20-34 age group.
If 24% of them are currently living at home for economic reasons, that represents a potential 15 million houses, apartments or condos. Wow.
However, the survey results are based on those who moved in “for a time during the past few years“. It does not detail those currently living at home due to economic reasons.
On the other hand, the survey does not reflect households doubling up, friends sharing houses or condos, sisters or brothers sharing houses, etc.
Thus, a precise impact is not at hand, but it appears to easily be in the millions, and that is on top of the 4.3 million three-generational households as noted in the first link.