Question Details

Lance, Home Buyer in California

How many homes were built versus population growth?

Asked by Lance, California Sat May 17, 2008

I could be reading the data wrong but according to data on the census bureau website the number of households in 2000 was 105 million and estimated 126 million in 2006 ( 21 million increase). The population of the united states was 281 million in 2000 and estimated to be 299 million in 2006 ( 18 million increase). Does that sound correct? That would suggest there were more than 3 million homes built than people born, and given that on average there are 3.2 people per household sounds scary. Does anybody know of more accurate numbers/demographic trends?

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Answers

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Lance,

You have excellent questions!

Several things happened
1. Many people were not home owners, so an increase of ownership of say 40% to 50% would be 10+ million
2. Money was flowing freely, due to many factors
3. The population being born does not affect housing purchases directly

What website are you using? I think Census data is helpful, but there have to be millions of people that are not counted. If I was from Honduras and hung out at Home Depot for a job, I wouldn't want to declare myself publicly.

Check out this interesting story on NPR. It's the best description I have heard about the housing market over the last 5 years.
0 votes Thank Flag Link Sun May 18, 2008
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