Demographic Trends
In the absence of remedial action, today’s
high rental cost burdens – triggered by a
weak economy, the lack of household income
growth, higher demand as millions of households have transitioned from homeownership, and the severe shortage of affordable
and available homes for our nation’s lowestincome families – may be further exacerbated
by new pressures stemming from the changing demographics of America.39
...few groups
suffered more
from the economic
downturn than
The key elements of these
changing demographics are:
young adults
n New household formation by
young adults;
whose median
n The increasing diversity of the
incomes have
U.S. population;
dropped to levels
n Higher expected annual immigration
levels; and
not seen since
n The aging of the 78 million
the 1970s.
Baby Boomers.
Together, these demographic trends will
all converge in a