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Nov 24
2009
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As things slow down for the holidays I find myself asking if the apartment industry is a good one to be working in. We all find ourselves asking a similar question from time to time. I found one answer and thought I'd pass it along.
Short Answer: Yes - The Apartment Industry is a good place to be working.
The Slightly Longer Answer: Current US population is 308 million with an estimated population of 341 million in 2020 (http://www.census.gov). According to Harry Terris of American Banker there is a predicted 5.7% decrease (from 69.2% to 63.5%) in home ownership by 2020 (http://tinyurl.com/yjl3d6t). That puts today's non-owning people at 95 million and 2020's non-owners at 124 million people. That means we can expect 29 million new non-homeowners in 2020.
29 million new potential customers in the next 10 years puts a smile on my face. Have a happy Thanksgiving!
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