After the financial crisis, many college graduates moved back in with their parents and unemployed and underemployed relatives were forced to bunk with their family members. As the economy seemingly recovers, analysts wonder what will happen when this population starts looking for a place to live.
A report by Dr. Daniel Bachman, a senior manager of U.S. macroeconomics at Deloitte Services LP, explores the nature of this potential demand within the U.S. housing market. His research sets out to answer,
“How much housing construction will we need to meet the needs of the growing US population? And will college graduates have houses waiting for them when they move out?”
Ultimately the report forecasts that between now and 2020, the construction industry will likely be a “boring area for the economy.”
Read article to find out how he came to this conclusion!