Magazine article Mortgage Banking

Harvard Joint Center Releases Report on State of the Nation's Housing

Magazine article Mortgage Banking

Harvard Joint Center Releases Report on State of the Nation's Housing

Article excerpt

ACCORDING TO CAMBRIDGE, MASSACHUsetts-based Harvard University's Joint Center for Housing Studies' 2004 State of the Nation's Housing report, women and minorities will play a larger role in housing's future. Women's expanded role in housing markets is a result of the steady rise in the numbers of dual-earner married couples and single female households over the past 20 years, the report maintains. While women make up an increasing share of middle-income households, they are over-represented in the lowest income category.

At the same time, immigration is reshaping the racial and ethnic composition and age distribution of the population in the United States. "Largely as a result of immigration, minorities accounted for 27 percent of households in 2003 and will contribute at least two-thirds of net household growth in the coming decades," said Nicolas P. Retsinas, director of the Joint Center for Housing Studies.

The housing industry is well-positioned for another strong decade, according to the Joint Center, which projects that household growth between 2005 and 2015 will be at least 10 percent higher than previously projected--bringing the total increase to more than 13 million households. …

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