Phoenix File: Facts that will influence real estate pricing over the next 20 years


Phoenix file:Facts that will influence real estate pricing over the next 20 years

Phoenix Files:Important Facts that Will Affect Real Estate Pricing Over the Next 20+ Years
by Clifford A. Hockley

Each year, our population continues to grow and with that growth comes many changes to the average American household. Find out how changes in our population will affect real estate in different areas of theUnited States. These factors may play an important role in how you decide to invest in real estate in the future. By 2010 over 40 percent of all households will be comprised of an age group over 55 years. The number of citizens over the age of 65 years will jump from 34.7 million in 2000 to nearly 70 million by 2030 (a mere 30 years). The Spanish speaking population will increase from 31.4 million in 2000 to nearly 65.6 million in 2030. 50 percent of children under the age of 18 (42,853,649) will be a minority in 2030. TotalUSpopulation is estimated at 400 million in 2030. The traditional household (married couple with children) which comprised 90 percent of the households in 1950 will comprise only 65 percent of the households in 2030. 29 percent of theUShouseholds will be living alone in 2030. From 2000 to 2030, theU.S.population will grow by 82 million, 72 million of this growth will occur in the South and the West. Worldwide the percentage of the population living in cities is projected to grow from 47 percent to 60 percent by 2030. (UN study 2003) Researchers find ‘large is smart’ when it comes to cities. AR 11/10

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