How Population Growth Estimates Affect Housing Market Projections: Will economic growth hold up under the weight of the housing correction?
Rani Isaac (CRB-07-008, August, 2007)
As foreclosure rates rise, home sales slump, and new building continues to slow, economists are trying to estimate how many potential homebuyers there are in order to estimate the number of years the turnaround in the housing market will take. Projections vary depending upon the population data used – either the State of California's department of Finance Demographic Research Unit's or the Census Bureau's. This article explores how differences in the number of people, number of homes, vacancy rates, and household size impact the forecast.
PDF version (983KB) is available online.
For this and other online California Research Bureau reports, please visit the California Research Bureau page on the California State Library website.