Abstract
In recent years, home ownership has become a feature of the American Dream. This was not always the case. Historically, the American Dream was characterized as people being rewarded fairly for their effort and each new generation being better off than the prior one (Adams 1931). The dream has evolved to include home ownership for reasons that are not entirely clear (Rohe and Watson 2007). Fulfillment of that part of the dream has been largely achieved. Since the end of World War II, home ownership in the United States rose from 55 percent in 19501 to 69 percent in 2004.2 By 2030, however, it will may be less attainable or even desirable. Reasons for this include rising energy costs, falling incomes, lagging employment, shifting wealth to upper classes, and tighter mortgage underwriting requirements. Added to these reasons are market trends including key population and sweeping generational changes, the rise of a new housing market, and important nonresidential trends. These trends and changes will lead to a new America in 2030.
This is a preview of subscription content, log in via an institution.
referenses
Adams, J. T. (1931). The Epic of America. New York: Little.
Rohe, W. M. and H. L. Watson, eds. (2007). Chasing the American Dream: New Perspectives on Affordable Homeownership. Ithaca, NY: Cornell University Press.
Molloy, R., and H. Shan (2011). The Effect of Gasoline Prices on Household Lo cation. Washington, DC: Federal Reserve Board. http://federalreserve.gov/pubs/feds/2010/201036/201036pap.pdf.
Federal Reserve Board (2012). Changes in U.S. Family Finances from 2007 to 2010: Evidence from the Survey of Consumer Finances, Washington, DC: Federal Reserve Board. http://www.federalreserve.gov/pubs/bulletin/2012/pdf/scf12.pdf.
A. Dalaker, A. Joseph (2001). Poverty in the United States: 2000, US Census Bureau, Current Population Reports, P60-214, US Government Printing Office, Washington, DC.
DeNavas-Walt, C., B. D. Proctor, and J. C. Smith (2011). Income, Poverty, and Health Insurance Coverage in the United States: 2010, US Census Bureau, Current Population Reports, P60-239, US Government Printing Office, Washington, DC.
Kneebone, E., and E. Garr (2010). The Suburbanization of Poverty: Trends in Metropolitan America, 2000 to 2008. Washington, DC: Brookings In stitution.
McKeever, M. (2011). White Paper on Changing National Demographics and Demand for Housing Types. Sacramento, CA: Sacramento Area Council of Governments.
McIlwain, J. (2009). Housing in America: The Next Decade. Washington, DC: Urban Land Institute.
Kamp, D. (2009). Rethinking the American Dream. Vanity Fair. http://www.vanity fair.com/culture/features/2009/04/american-dream200904.
Woods & Poole Economics (2010, 2011), The Complete Economic and Demographic Data Source, Washington, DC.
Glaeser, E. L. (2011). Goodbye, golden years. New York Times, November 19. http://www.nytimes.com/2011/11/20/opinion/sunday/retirement-goodbye-golden -years.html?pagewanted = all
Keenan, T. A. (2010). Home and Community Preferences of the 45+ Population. Washington, DC: American Association of Retired Persons.
Cisneros, H., M. Dyer-Chamberlain, and J. Hickie (2012). Independent for Life: Homes and Neighborhoods for an Aging America. Austin, TX: Uni ver sity of Texas Press.
Transportation for America (2011). Aging in Place, Stuck without Options: Fixing the Mobility Crisis Threatening the Baby Boom Generation. Wash ington, DC: Transportation for America.
Downs, B. (2003). Fertility of American Women: June 2002. US Census Bu reau, Current Population Reports, P20-548. Washington, DC.
Goldin, C. (2004). The Long Road to the Fast Track: Career and Family, Mom mies and Daddies on the Fast Track: Success of Parents in De manding Professions, Special Issue of Annals of the American Academy of Political and Social Science, 596: 246–247.
Hamilton, B. E., J.A. Martin, S. J. Ventura (2009). Births: Preliminary data for 2007. National Vital Statistics Reports, Web release; 57 (12). Hyattsville, MD: National Center for Health Statistics. Released March 18, 2009.
Pew Research Center (2010). The Return of the Multi-Generational Family Household. Washington, DC: Pew Charitable Trusts. Accessed July 24, 2012, http: //www.pewsocialtrends.org/2010/03/18/the-return-of-the-multi-generational -family-household/.
Urban Land Institute (2011). What’s Next? Real Estate in the New Economy. Washington, DC: Urban Land Institute.
Eggers, F. J., and F. Moumen. (2011). Housing Units that Serve Both the Renter and Owner Markets. Washington, DC: US Department of Housing and Urban Development, Office of Policy Development and Research.
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2013 Arthur C. Nelson
About this chapter
Cite this chapter
Nelson, A.C. (2013). Major Market Trends and Demographic Changes. In: Reshaping Metropolitan America. Metropolitan Planning + Design. Island Press, Washington, DC. https://doi.org/10.5822/978-1-61091-222-8_2
Download citation
DOI: https://doi.org/10.5822/978-1-61091-222-8_2
Publisher Name: Island Press, Washington, DC
Print ISBN: 978-1-59726-361-0
Online ISBN: 978-1-61091-222-8
eBook Packages: Earth and Environmental ScienceEarth and Environmental Science (R0)