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Demographics are set to drive future housing demand, panelists say

According to a Walker & Dunlop webcast panel, slower immigration, below-replacement birth rates, and aging could reshape household formation, influencing where housing investment grows.

Reported · Written up by our desk · Residential

ConnectCRE reports that industry experts speaking on Walker & Dunlop’s “Shifting Sands of Housing” panel said long-term demographic shifts will increasingly shape housing demand, even as interest rates and affordability remain prominent in the current market conversation.

The outlet said the hour-long discussion, featured on the Walker Webcast on July 29, centered on how population growth and where it occurs can guide housing demand and influence where companies invest, rather than focusing only on today’s market cycle.

ConnectCRE added that moderator Ivy Zelman, Executive Vice President of Research & Securities at Zelman, a Walker & Dunlop company, revisited research from the “Cradle to Grave” report, which points to an aging population, below-replacement birth rates, and slower immigration as factors that could affect future household formation.

Panelists also tied population dynamics to economic conditions, with PulteGroup’s Ryan Marshall emphasizing that population follows job locations, while Cortland’s Steven DeFrancis said some markets seeing job and population growth are also dealing with multifamily oversupply and that, without immigration, certain areas can lose population.

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