Demographic Challenges and Opportunities for U.S. Housing Markets
With the aging of the Baby Boomers, America’s population of seniors is growing and diversifying fast. Fewer seniors are disabled and more of them are financially independent, but the sheer size of the Baby Boom generation means that a large increase in the absolute number of seniors facing housing affordability and independent living challenges is inevitable. Aging is likely to pose special housing challenges for renters, minorities and rural Americans. This paper summarizes six key demographic trends against the backdrop of the still unfolding U.S. housing crisis, which has thrown markets into disarray and disrupted long-term trends in demography and housing demand.