{"id":8249,"date":"2015-08-27T14:33:46","date_gmt":"2015-08-27T14:33:46","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=8249"},"modified":"2015-08-27T14:33:46","modified_gmt":"2015-08-27T14:33:46","slug":"10-year-housing-surge-on-the-horizon","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/10-year-housing-surge-on-the-horizon\/","title":{"rendered":"10-Year Housing Surge on the Horizon?"},"content":{"rendered":"

10-Year Housing Surge on the Horizon?<\/h2>\n

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\"10-Year<\/a>

10-Year Housing Surge on the Horizon? Image courtesy of ddpavumba \/ FreeDigitalPhotos.net<\/p><\/div>\n

The housing market is poised for one of its largest expansions in history. By 2024, demographic\u00a0and economic changes are forecasted to bring 15.9 million additional households on board, according to a new study released by the Mortgage Bankers Association.<\/p>\n

That means an average of 1.6 million additional households per year, sparking \u201chousing market growth over the next decade that would be among the strongest the U.S. has ever seen,\u201d according to the report.<\/p>\n

The MBA report says the bulk of that growth will be from increases in the number of households who are headed by those age 60 and older and households headed by age 45 and younger. Those age group increases are expected to mitigate the decline among households age 45 to 60.<\/p>\n

\u201cAn aging population should gradually increase demand for home ownership, partially offsetting the influence of a more racially and ethnically diverse population on home ownership rates,\u201d the MBA report notes.<\/p>\n

The Census Bureau projects the following breakdown in ages emerging in 2024, as compared to 2014:<\/p>\n