|
Housing in Next 10 Years to Outshine Previous Decade
From now through 2015, housing starts are unlikely to exceed last year’s record 2.073 million single-family and multifamily units, according to the long-term forecast just published by economists at NAHB. However, starts won’t be too far from the record in at least a couple of those years, and on average will exceed those of the previous 10-year period.
The real value of residential construction will exceed previous decades by an even wider margin, the forecast says, partly because the size of new homes is expected to continue drifting upward, but even more because of the addition of amenities and equipment demanded by baby boomers trading up.
|
