Even before the pandemic, demographics were shifting toward nonfamily households. In 1960, 85 percent of households were composed of families, according to the Population Reference Bureau. By 2017, that figure had fallen to 65 percent of households.
As Americans continue to age, Harrell and others expect growing demand for more housing options. “As a society, we’ve been building and thinking about younger families and building housing and communities for younger people,” he said.
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Boomers getting hit financially leaving more stress on housing market and economy
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