Determinants of Growth in Multiunit Housing Demand since the Great Recession: An Age-Period-Cohort Analysis

摘要: Following the Great Recession (2007–2009), growth in multiunit housing starts has been exceptionally strong and sustained. In this study, we examine empirical evidence for three possible explanations, namely, passage of Baby Boomers into senior years, depressed economic conditions, rising preference recent birth cohorts residing urban cores. Applying Age-Period-Cohort analysis to census data on occupancy from 1970 2010, find support explanations that a sharp increase demand Millennials drawn cores retiring are contributing starts. The results provide weak negative relationship between conditions Over long term, can be expected moderate as result projected aging population.