Demographics and population trends influence almost every decision in modern life, from business planning to healthcare provisions, from education needs to fashion and style. Age, ethnicity, gender, income, mobility, employment, geography and other demographic factors determine the shape of our society.
Real estate is no less affected by the ebbs and flows of demographic trends, particularly income, aging, family situations and employment. Consider a real estate broker, whose livelihood depends on people changing homes. Economic mobility is a key determinant in the future of his business, as is the economic health of the region.
“I look to see how fast the economy is growing, and how many jobs are likely to be created as a result, to determine the resources my business will need over the next five years,” says Terry Denoux, a Bend, Oregon, real estate broker.
Development planning relies even more on demographic data to determine priorities. The average age of the population is a major factor in the type of housing that will be required over the next couple decades.
“A young population in an area will require more single...
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