In the last five years, the average price of an American home has shot up fifty percent. In many cities, it has more than doubled. And now, we're told, the party's over. Prices are still high, but the frenzy has finished. The market has peaked.
So now what for Americans and their homes? A lot, it turns out. Next month, the first baby boomers turn sixty, and that is just the huge beginning of a cascade of demographic shifts that will remake who lives where, for how much money, and with what expectations for community and lifestyle in the decades ahead.
Hear about the future of the American home — who's going to live where, and its meaning for the U.S. housing market.
Greg Ip, Wall Street Journal.;
John McIlwain, Senior Fellow for Housing, Urban Land Institute.
This program aired on December 5, 2005. The audio for this program is not available.