Population trends favor apartment living for the next 20 years!

Knowing that the rental pool will not be shrinking any time soon is a comforting thought.  The National Apartment Association projects demand for nearly $1.1 trillion in new apartment buildings by 2030.

A new report projects that U.S. home ownership will drop more than 10 percent in the next 10 years, bringing the United State closer to European housing models.

The report highlights these important facts:

• Nearly 85 million Americans are part of the Generation Y group, born between 1977 and 1996. They are larger than today's Baby Boomer generation.  As a whole they prefer urban living and they avoid long commutes.
• Most job growth is in urban areas.
• Apartments are less expensive than condos or single family homes. Average household debt has doubled. People are spending less and saving more.
• The population is aging. Next year, 40.2 million Americans will be over 65 and by 2030 that will reach 72.1 million.  Older people are more likely to become renters. 

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