Journal Article

Household formation and the great recession

Abstract: During the Great Recession, the rate at which Americans formed households fell sharply. Though the rate has recently picked up, it isn?t fast enough to make up for the shortfall in household formation that occurred over the last several years. An analysis of recent household formation patterns shows that the greatest shortfall occurred among young adults and that it is related to weak economic conditions. Housing choices have shifted as well, with a greater proportion of young households living in rental housing rather than owner-occupied homes.

Keywords: Recessions; Households - Economic aspects; Economic conditions;

Bibliographic Information

Provider: Federal Reserve Bank of Cleveland

Part of Series: Economic Commentary

Publication Date: 2012

Issue: Aug

Order Number: 12