As part of my continuing series The Affordability Trap - forever renters I wanted to add in something that has really been bugging me ever since I have thrown my efforts into the advocacy for responsible and sane building in our City.
Being from "that generation" I just did not want to listen to just the private equity firms telling us we need to BUILD, BUILD, BUILD shouting not just here in California but all throughout the U.S. and that we have a HOUSING CRISIS, HOUSING CRISIS!
But do we really?
Since I am considered the Baby Boomer generation and I have seen a decrease in folks having children ESPECIALLY in an outrageously expensive state like California so I thought I would just take a moment to check out some ACTUAL FACTS instead of listening to all the noise created by private equity firms and politicians.
So here they are.
There are 5 groups of generations still living here in the U.S. with APPROXIMATE ages, dates
Silent Generation - ages approximately 80 to 100 years old - born 1925 to 1945
Baby Boomer generation - ages approximately 61 to 79 years old - born 1946 to 1964
Generation X - ages approximately 45 to 60 years old - born 1965 to 1980
Millennials (Y) - approximately 25 to 44 years old - born 1981 to 2000
Generation Z - approximately 5 to 24 years old - born 2001 - 2020
The Baby Boomer generation, so named due to the birth rate boom post World War II, created a 65% increase in the U.S. population.
However by the time Millennials got around to creating families the population growth was only about 14%
People can argue a number of factors for the drop in population increase by Millennials like crushing college loan debt, high cost of raising a child and child care, increased use of Social Media platforms that instead of creating actual human social interaction actually decrease human to human contact and I could go on.
But let's get to some more facts here.
The U.S. Census Bureau does tracking of the population every 10 years so we currently have statistics from 1910 to 2020 with the next update scheduled for 2030.
So lets check out some real verifiable numbers.
In the 1950's part of the Baby Boomer years the entire U.S. population grew by 14.5%
In the 1960's it continued the upward trend and increased by 18.5%
So what do you think the population growth was in our latest U.S. census report?
As you probably already instinctively know it has decreased to 7.4%
Again I will let others argue the WHY of that. 🤔💭
Now let's move to the States with the HIGHEST population during the 2020 census and they are;
Utah at 18.4%
Idaho at 17.3%
Texas at 15.9%
All way higher than the National average of 7.4%
Now lets take a look at the States with the LOWEST population during the 2020 census and they are;
West Virginia at Negative 3.2%
Mississippi at Negative 0.2%
Illinois at Negative 0.1%
So where do you think Calfirornia ranked in all of this?
California only grew by 6.1%.
BELOW the National Average of 7.4% and way down from it's all time highs of the 1950's and 1960" with 18.5 and 14.5 percentage growth rate respectively.
So again I ask, are we REALLY in a housing crisis?
Or could we possibly be being manipulated and suckered in by these massive private equity firms like Blackstone and politicians taking campaign contributions from them?
https://www.tiktok.com/@cnbc/video/7528153905218243895?lang=en
What do you all think?
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