According to a new study from the Lusk Center for Real Estate at the University of Southern California, new household formation – one of the key drivers of the demand for housing in the U.S. – has recovered from the widespread job losses that came with the recession. The study was highlighted in an article from DS News.
The study found that household formations consistently return to their previous levels in about three years regardless of whether employment has recovered at the same rate during that time.
The researchers found in their study that household formations in the U.S. fell to almost zero during the recession’s peak years of 2008 to 2010, but then played three years of catch-up and have now recovered to pre-recession levels of about one million per year.
