HOW WE GOT HERE, HOW WE ADDRESS IT AND THE DEMOGRAPHIC SHIFTS THAT WILL IMPACT WHAT AND WHERE WE CALL HOME
Arthur C. Nelson, professor of planning & real estate development at the University of Arizona, said there are houses “with more rooms than people because over the years, the average number of people in a home has shrunk from 3.5 to 2.5.”
These are the aging baby boomers’ houses on large lots that will not match the needs of young buyers.
Nelson believes in many regions, including the Great Lakes, there will
be more senior citizens trying to unload their homes than people who want that
type of housing on large lots.
This will become very evident by 2030,” he said.
“Seniors, whose biggest asset is the home they own, will sell their home for much less than they hoped — or not be able to sell at all.
Public policy must address this mismatch of housing needs.”
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