Reality Check: US Household Formation Grows With Job Creation

Recently our very own "Uncle" Ben Coleman was interviewed as part of an article from Market News International columnist Claudia Hirsch. Different executives from the housing industry discuss the growth of US household formation due to more job creation, as well as the increase of young people starting their own households again.

Excerpt from the article:

      A real estate sales agent in San Francisco, California and surrounding counties described a slight uptick in household formation by young people in 2012.

      "There's a small increase, not huge. There's just not enough job creation to cause a major influx," said Ben Coleman, owner of Hartford Properties, in San Francisco.

      Recent clients include a pair of step-brothers who went in on a first-time home purchase together after living with their parents. They are both employed and in their mid- to late-twenties, he said.

      Coleman said residential construction is active again in San Francisco, both rental apartments and condominiums.  "There's pent-up demand. There's pent-up money because of people who were smart enough to save."

 

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