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In the realm of housing, the term “ silver tsunami ” often refers to the idea that older homeowners will aim to downsize and sell their homes, theoretically flooding the market with new inventory. More than a third of residents will be 65 or older in at least five South Carolina counties by 2040.”
In a release on Thursday , the Urban Institute projected the future headship rate — the share of adults who are the heads of households — and the homeownership rate — the share of household heads who own their homes — through 2040. million in growth from 2030 to 2040. Between 2020 and 2040, Hispanic households will grow by 8.6
I am super busy right now, said Charissa Kennard , an agent for Berkshire Hathaway HomeServices Verani Realty.There is a lot of inventory right now, which is good because there are a lot more options for clients right now. This massive influx of new residents calling New Hampshire home has caused a strain on the states housing inventory.
Peak 65 serves as an historic demographic milestone of the new paradigm shift that is changing every aspect of the housing market , finance, retirement planning process and the fragile supply/demand balance of housing inventory for real estate at large. We are living in a watershed moment in history. Builders are not keeping up with demand.
Josh Mettle: (1) Housing will continue to appreciate (albeit at a slower pace) until the supply of housing reaches balanced inventory levels. HousingWire: What are 2-3 trends that you’re closely following? It appears homebuilders will need a minimum of 3-5 years before they catch up. (2)
Based on the states estimated population growth, nearly 60,000 more housing units are needed between 2020 and 2030, while nearly 90,000 units are needed between 2020 and 2040. This is based on an estimate that some 52,500 households will be added between 2020 and 2030, or roughly 74,400 between 2020 and 2040. Census Bureau.
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