Sluggish Housing Market A Product Of Millions Of ‘Missing Households’ : NPR

By Chris Arnold

Home sales have fizzled in part because Americans in their 20s and 30s are choosing not to buy. Only 16 percent of new home sales are to first-time homebuyers.

A year ago, the housing market looked like it was finally recovering. Sales and prices were picking up. But then home sales fizzled. Currently, they are down about 7 percent from last spring.

A big part of why housing remains so stunted is that there are more than 2 million “missing households” in the U.S. That’s how economists describe the fact that fewer people are striking out on their own to find places to live.

Instead of renting an apartment or buying a home, a large number of Americans in their 20s and early 30s are living with family or tripling up with roommates. That’s because younger Americans are having an especially tough time since the recession.

To read or listen to the rest of this story on NPR, click here.

Curated from

Leave a Reply

Your email address will not be published. Required fields are marked *