J.P. Morgan Strategist Projects Demographic Demand for 320,000 New Homes a Year

J.P. Morgan Asset Management Chief Global Strategist David Kelly estimates slower U.S. population growth could bring demographic demand for new homes to 320,000 a year, far below the earlier pace. In his Oct. 26 housing outlook, Kelly projects annual population growth of 800,000 over the next few years. At about 2.5 people per household, that pace implies demand for 320,000 additional housing units annually. The same calculation yielded roughly 1 million a year during the first two decades of this century. The decline in net international migration is part of the population outlook.

Source: TokenPost