14/12/2004
Report states that more homes are required to serve America's growing population
MORE HOMES FOR THE U.S.A
Residential and commercial development in the next 25 years will need to eclipse anything seen in previous generations in order to serve America’s growing population, according to a Brookings Institution report.
Almost 60 million new housing units will need to be built by 2030 to accommodate the growth. The U.S. population is expected to increase 33% to 376 million by 2030, according to the analysis. That’s 94 million more people than in 2000. To serve that population, almost 60 million housing units will have to be built. About 20 million of these units will replace destroyed or aging homes. In addition, half of the largest metropolitan areas will have to add as much or more commercial and industrial space as existed in 2000, the report says.