Oct 06, 2010
Changing demographics add to housing woes
06 Oct 2010
Posted by VAR
William Lucy, an urban planner at UVA, believes that the abundance of homes on the market right now could have more to do with changing age demographics than with overbuilding or foreclosures.
Over the past decade, the number of households with individuals over the age of 55 has grown, while the number of households with individuals between the ages of 30 and 45 has fallen. Which, according to the UVA professor, has created an imbalance in the number of potential buyers and potential sellers.