Sentences with phrase «normal household formation»
Historically, as Schnure points out that, normal household formation would imply that 7.5 million new households should have formed since 2007.
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While builders have cut back drastically on home production, a more normal rate of household formation is needed to absorb the current glut of foreclosed and distressed homes, the report said.
It was bound to happen after an unprecedented five consecutive years of deeply suppressed household formation — less than half the normal rate at 500,000 new households per year from 2007 to 2011.