Virginia North |

How Demographics Effect Real Estate

July 30th, 2010 | Author:

Demographics are routinely overlooked when it comes understanding real estate. Here are some things to consider.

As mentioned before on this site, much of the housing boom that occurred, occurred because of demographics and demographic shifts.

Older babyboomers were scaling down either in size of home or price of home and moving.
Younger baby-boomers were moving up to have more room for their expanding family.

These two alone caused for a lot of home buying and building. But now they are done…at least for now.

If you are thinking about owing real estate, consider asking yourself these questions:

What are the demographic trends of the future when it comes to housing?

Baby-boomers moving down and moving out
Homesteading where multiple generations share the same property
Immigration: People will continue to immigrate to the U.S. legally and illegally…The population will continue to grow and it will need housing. But how long will it take till all the vacant homes are purchased by increasing population?

Where will large groups of people be moving to?

Mid-Atlantic and Southern East Coast States: Virginia, North Carolina, South Carolina, Georgia and Florida
Texas
Pacific Northwest
Resort communities that cater to full-time residents

What type of homes will people be interested in buying?

Smaller
Homes with land for gardening and farming
Homes that allow multiple families to live in them
Homes in more of a rural area, but convenient (45-60 minutes) to amenities and homes in more urban areas. Suburban areas will likely experience and exodus or at least become a less desirable place to live.

What states are pro business?

Virginia
Utah
North Carolina
Wyoming
South Carolina
South Dakota
Kansas
Georgia
Florida
Nebraska

*Notice 5 of the Top 10 States For Business are the Mid-Atlantic and Southern east coast states.

Where is business booming or will likely grow?

Texas
Virginia
North Carolina
Georgia

What states have low income taxes or no sales taxes?

No Income Tax States

Alaska
Florida
Nevada
South Dakota
Texas
Washington
Wyoming

Tax on only investment/dividend income states

New Hampshire
Tennessee

No Sales Tax States

Alaska
Delaware
Montana
New Hampshire
Oregon

Check out this article: The Future of Housing Demand: 4 Key Demographic Trends

For more information on Christian Economics and Real Estate, please visit The Christian Economic Report at www.ChristianEconomicReport.com.
Article Source

Related Blogs

A bit of humor...

Powered By WPHumor

Quotes..

Powered By Famous Quotes

Please Note... All links within articles are placed by their author-owners and not by this blog.Products with in those links may or may not be the best in the world.If it sounds too good to be true it could be a scam.Articles are posted for their info,ideas and or entertainment value only.

Powered By WP Footer