Some interesting demographic trends for the next 10 years........
John Burns, CEO of John Burns Real Estate Consulting and his team spent more than 9,000 hours researching demographic shifts that will occur over the next decade. Here are some of the demographic trends they found:
1. More people over the age of 65: Thirty-eight percent of the population will be over the age of 65 within the next decade—the number will hit 66 million people by 2025. This will spark even greater demand for high-density, low-maintenance living.
2. More affluent immigrants: There will be 8 million increasingly affluent immigrants over the next decade. “Today’s immigrant tends to arrive on an airplane from China, Brazil, and other countries where the economies have been booming.
3. More people head south: Sixty-two percent of the population growth over the next decade will likely be in the South, where already 42 percent of the nation lives, Plenty of jobs, affordable housing, and warm weather will make Texas, Arizona, Nevada, Florida, Georgia, North Carolina very attractive.
4. More people passing away and leaving a household behind: Burns estimates there will be 25.8 million newly formed households in the next 10 years, and 13.3 million of those will move to a household abandoned by someone who passes away or moves into an assisted living facility.
Source: “Finally: Demographic Clarity,” ATTOM Data Solutions (March 30, 2018)