Believe it or note, a housing shortage is looming. That’s not common knowledge, but it’s coming. Consider the following:
In July 2008, the U.S. Census Bureau released some incredible population projections. Take a look at these numbers:
- Projected increase of 135 million people (a 44% increase) in the U.S. by 2050 (to give you perspective, that’s equivalent to the entire populations of Mexico and Canada moving to the United States)
- The Census Bureau estimates this population boom will require 52 million new housing units
- This amounts to over 1.25 million new housing structures that must be built each year in America just to keep up with the increase in population.