Aging Housing Stock; Problem and Opportunity
Posted To: MND NewsWireAn aging housing stock is usually thought of as a problem. Older homes can be more expensive to maintain and easily fall into enough disrepair to be a health or safety hazard or completely uninhabitable. Construction since the housing crisis has not kept pace with the homes that age out or are otherwise removed from the housing stock and this means that the overall age of the U.S. housing stock is gradually aging. Na Zhao, writing in the National Association of Home Builders’ (NAHB’s) Eye on Housing blog says data from the 2016 American Community Survey (ACS) puts the median age of owner-occupied homes at 37 years compared to a median age of 31 years in 2005. The aging trend, as the figure below shows, accelerated during the Great Recession. Na Zhao, while not denying that the increasing age…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.