- Created: Monday, 13 November 2017 10:51
- Written by Laura Proescholdt
What are the dynamic trends shaping the nation’s housing markets, and how do the Twin Cities stack up?
On November 1, nearly 100 Investors Council members convened to hear a special presentation on these questions by Chris Herbert, Managing Director of the Harvard Joint Center for Housing Studies. Herbert highlighted key trends from the annual “State of the Nation’s Housing” report, released in June. Here are six takeaways from Herbert’s presentation:
1) While there’s been significant growth in renter households over the past 10 years, that growth is now slowing.
From 2010 to 2015, the annual growth in renter households outpaced all previous decades. Though households comprised of a single person are the most common renters — and millennials have played a significant role in driving this trend — the growth in renter households has been diverse across age, family type, and income level. However, this growth appears to be decelerating. From 2015 to 2016, annual growth fell by 1 million renter households.