Demand for housing is driven primarily by an increase in
household growth, which is expected to remain strong based on aging
millennials and the overall population.
According to the Joint
Center for Housing Studies of Harvard University, with a large portion
of the millennial population now in its early 30s, adults under age 35
formed 10.5 million new households in 2012 – 2017, which is 1.5 million
more than in the previous five-year period.
The millennial generation will continue to lift household growth for years to come.
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