1.9 Million Household Formations; 1.4 Million New Homes Coming Online
In 2023, 1.9 million new households will be formed as young people leave college, leave their parents’ homes, get married, etc.
But – only 1.4 million new homes will come online.
This data was reported by Barry Habib last week, and it is one more HUGE reminder of why 2023 is so different from 2007 and 2008!
Prior to 2008, the number of new homes coming online exceeded household formations.
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