Demographic factors, which include immigration, are important long-term forces for the housing industry and will have a large impact on the size, amount, and type of housing demanded.

A slowdown in growth of the population 25 and older began after the last of the baby boomers reached adulthood. In consequence, the average annual increase in the adult population has fallen from 2.6 million during the 1980s to roughly two million during the early 1990s.

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