LoanCentral's Real Estate Lending Blog

That's exactly the population boom that we are for if the latest Census Bureau data is correct. Imagine what that will do for our real estate values! Supply and Demand will drive prices up with the added demand of population growth.

In June 2008, the Census Bureau released their projections for population growth in the United States. They are projecting an INCREASE of an additional 135 million people in the USA by the year 2050 - just 42 years from now. 

• That's an additional 3,214,285 people per YEAR or
• 8,806 new people per DAY

 When all is said and done, if the projections are correct - it's the equivalent of the entire population of Mexico and Canada moving here to the United States. Think of what that would do to home values in the next 30 to 40 years!

By the way, if you were wondering - the driving factor is primarily fueled by immigration and not new babies. In the past, FNMA projected that the typical immigrant purchased a home within 10 years of moving to the USA. The projections are estimated to create a need for 52 million NEW housing units, not to mention the boost to our housing market and other local economies that support population growth.