News & Opinions
The latest news and insights from Hanley Wood’s outspoken experts and key thought-leaders throughout the residential and commercial design and construction industry.
Joshua J. Miller / NAHB / September 20, 2013
According to a recent report by the Census, married couples with children account for only 19.6% of all households in the U.S. The new figure represents a drop of 4.5 percentage points from 2000 when 24.1% of all households in the U.S. were married couples with children. The share of total households in 1970 was 40.3%.
As the share of households that include married couples with children decreased, one-person households and other household types rose. The share of one-person households increased from 17.1% in 1970 to 27.5% in 2012.
The dramatic decline in married households with childrenRead More
Brent Nyitray / Market Realist / July 16, 2013
Low household formation numbers over the past five years will drive homebuilder demand going forward
Since the financial crisis began, demand for new construction has fallen, as household formation numbers have dropped. The low household formation numbers have been driven by a poor economy—not by demographics. This represents pent-up demand that must be satisfied in the future.
This series will discuss household formation numbers historically and over the past few years. We’ll compare those numbers with housing starts and show that there’s tremendous pent-up demand for housing,Read More
Sam Chapman and Yuliya Demyanyk / Federal Reserve Bank of Cleveland / May 2, 2013
Since the end of the recent financial crisis, individuals have been reducing the large amounts of debt that they had built up prior to the recession. Recent studies show that the percentage of individuals holding debt in 2012 is less than in 2000. (See this Census Bureau study and “Uneven Debt Burdens across the States”).
As of the end of 2012, 25.6 percent of individuals in a representative sample we analyzed have no debt. This fraction increased from 14.5 percent in 2000 and 17.3 percent in 2007. Forces driving this large deleveraging may include foreclosures, bankruptcy, decreased bankRead More
Lucia Mutikani / Reuters / January 18, 2013
Americans are feeling increasingly confident in the future and more and more are striking out to set up their own homes, a move that is helping propel the housing recovery.
The deep financial crisis and recession of 2007-2009 kept many Americans from leaving their parents’ nests and drove others back into them, putting a sharp brake on the pace at which new households formed.
Household growth averaged about 500,000 per year from 2008 through 2010 – less than half the rate seen at the height of the housing boom in the years just before that. The pace in 2010 was the weakest since 1947.Read More