U.S. Housing Market Faces a Demographic Tsunami (Prepare Or Suffer)

Published: Sep 11, 2024 Duration: 00:05:32 Category: Education

Tags : Real Estate Investing housing market predictions real estate crash U.S. Housing Market Faces a Demographic Tsunami demographic shockwave real estate housing crisis U.S. housing market housing demand trends population growth home buying trends rental market forecast demographic trends real estate real estate market future birth rate and housing demand first-time homebuyers immigration impact on real estate rental property investment real estate forecast 2024

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brace for impact this is almost like a demographic shock wave that will hit the real estate market whether you're a real estate investor homeowner or renter this will affect you this is the future and it's seismic in its profundity and import on the entire US housing market and all society yet practically no one knows that this is coming hi I'm get rication founder and for real estate council member Keith wiin hold demography is Destiny it's a quote attributed to 19th century philosopher AUST comti and it means that the size and structure of a society will influence its future tracking the age of a population overtime sharpens a forecast it is completely axiomatic that in 10 years a 25-year-old will be 35 no kidding well the average age of today's first-time home buyer is 35 take a look at this with thanks to John Burns Consulting between they and I were really bringing US Census Data to life the US had a hefty 4 million plus births per year every single year from 1990 to 2010 which is going to provide a Tailwind for housing demand through the next decade or more a surge that's the shock wave that's coming and the Us's Peak birth year occurred in 2007 we'll add 35 years to that is that's the age of the average firsttime home buyer and this means that on average they'll buy their first home in the early 2040s those that can't afford a home they're going to be out on their own by then as renters so this demographic wave is coming whether it's to own or rent a lot of people will need more homes now that we've looked at the past let's see how this sets up population and housing demand for the future more than 13,000 Americans are reaching Prime home buying age every single day for the next decade turning 35 each day for the foreseeable future you can see the years across the bottom 2024 2025 2026 and so on this many people are turning 35 every day of that year the US has 144 million housing units today and if we don't get serious about building more housing fast then it seems likely that we won't this will be analogous to a demographic shock wve that hits the housing market we're going to need a lot more housing of all types the population aging into Home Ownership is projected to exceed the population aging out as well like deaths for a long time it will pump housing demand these are just domestic births this doesn't even account for additional demand from immigration immigrants tend to be younger and are renters for a long duration before they own a home if they ever do on top of this take a look here the average number of people per household people living in a home is falling to it just keeps sliding down over the decades what this means is that more housing is required now then in earlier Generations even if the population just stayed the same but the population of course won't stay static to pile on here the overall US population is projected to grow too from 342 million today up to 383 million in 30 years per the CBO the demographics for senior housing are even more bullish and of course when I use the word bullish here all this bullish sentiment the positive sentiment that's from the real estate investor side and the homeowner own side if you're looking to buy your first home or rent one this is all more discouraging than most people's attempts to live a balanced life or perhaps more discouraging than your forgotten resolution to stop cursing this baked into the cake demand though it is almost perfectly predictable and of seismic importance to the real estate market but yet more investors fixate on something like the fed's next interest rate decision is it a quarter point cut or a half point cut or whether the unemployment rate moves say 2/10 of 1% that stuff matters but it's both harder to predict and way less significant the bottom line here the learning moment is that demographics reveal that housing demand should stay high for decades expect ever higher home prices higher occupancy rates and higher rents you yourself can benefit by owning a lot of rental properties well looking further into the future what about the US's overall growth rate like say 50 years from now how many more decades will our population grow and how does immigration factor into all of this including 1 million new migrants that you might not know about just from Cuba alone recently I sort out what all this means in this related video that I recently made right here

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