If we are seeing surging home prices now, in large part due to the huge millennial generation come of home buying age and underbuilding of housing since the great recession, what will happen in 30 years when the much smaller generation of 0-5 year olds now (since people are having fewer children) come of home buying age? What if homebuilders over build over the next 30 years to overcompensate. Together, will that mean that housing prices will go down since there will be more supply and less demand? Crazy how we are a product of history – with the current birth rate continuing to decline, millennials may end up being the largest generation in history!
See this chart showing the distribution of the US population – millenials are the single largest generation now, followed by boomers: https://en.wikipedia.org/wiki/Demographics_of_the_United_States#/media/File:USA2020dec1.png
What are your thoughts?