Housing Giants - April 10, 2008 - (Page 31)

te for Generation X – those born between roughly aby boomers. force. The estimated number of U.S. residents in July 2005 who said they were Asian or Asian in combination with one or more other races was 14.4 million. This group comprised 5 percent of the total population. By 2050, the U.S. Census Bureau estimates the Asian American population is estimated to be 33.4 million, which would represent 8 percent of the total U.S. population. As a group, Asian Americans are well-educated, with a median household income of $61,094 in 2005 — the highest median income of all races. In part two, we’ll delve deeper into the characteristics of these groups and how they will impact the residential construction market. HG “There are a skyrocketing number of individuals in the U.S. who have limited English proficiency, and an even greater number that live in households where no English is spoken, or it’s not spoken very well,” Kleber says. “The U.S. Census Bureau calls these households ‘linguistically isolated’ and the number of people living in them has increased dramatically in recent years to nearly 12 million people.” Asians are another notable immigration WWW.HOUSINGGIANTS.COM Read more on how changing demographics affect the housing market: JCHS’s “State of the Nation’s Housing 2007” report “The New Demographics of Housing” 4.10.08.HOUSING GIANTS 31 http://www.census.gov/Press-Release/www/releases/archives/population/001720.html http://www.jchs.harvard.edu/publications/markets/son2007/son2007.pdf http://www.mi.vt.edu/data/files/hpd%2013(2)/hpd%2013(2)_masnick.pdf http://WWW.HOUSINGGIANTS.COM

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Housing Giants - April 10, 2008 Contents Viewpoint News and Moves Market CEO Spotlight The New Housing Demographics

Housing Giants - April 10, 2008

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