says that "The population is growing, and with it the American Dream of
homeownership. In fact, with four million babies born in this country each year
and millions more families moving to this country in pursuit of the American
Dream, we expect the population to grow by 30 million by 2010."
Imagine the U.S. with 30 million more people in just a little more than six
years. How are we going to house so many people?
Let's assume that our 30 million additional citizens will want to live in
today's major population centers. Do you think commuting might be a little
tougher? Do you think home prices will rise or fall given increased demand?
It would be nice to suggest that new home construction will handle the load,
but that seems unlikely in a world where development is loudly opposed every
time an unusual rodent, gnat or flea rambles within 40 miles of a given site.
And "smart growth" advocates, who want to restrict development, only
add to the problem.
Past results surely do not guarantee future trends -- but past results plus
the addition of 30 million people are hard to ignore. If you want to know one
reason why real estate demand will remain strong in the future, just look at the
nation's delivery rooms, airports and harbors.
