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HOW HAS THE MODERN AMERICAN FAMILY IMPACTED THE REAL ESTATE INDUSTRY 5
How Has the Modern American Family Impacted the Real Estate Industry
Clay Graber
Kansas State University
Table of Contents
Introduction ------------------------------------------------------------------------------------------------------------ 3
Method ------------------------------------------------------------------------------------------------------------------ 3
The Modern American Family ------------------------------------------------------------------------------------- 3
Marriage and the Motivation -------------------------------------------------------------------------------- 3
Modern view of Marriage ----------------------------------------------------------------------------------- 4
Millennials ---------------------------------------------------------------------------------------------------- 5
Technology ---------------------------------------------------------------------------------------------------- 6
The Modern Woman ----------------------------------------------------------------------------------------- 7
The Housing Market in America ---------------------------------------------------------------------------------- 8
Origins of the Rental Market ------------------------------------------------------------------------------- 8
Rental Market Today ---------------------------------------------------------------------------------------- 8
Implications and Conclusion --------------------------------------------------------------------------------------- 9
References ------------------------------------------------------------------------------------------------------------- 10
Introduction
The modern day attitude of family and marriage has changed in America. Did you know that in 1960, 72% of all Americans over the age of 18 were married? As of 2008, that percentage has plummeted to 52% (“The Decline in Marriage”, 2010). This data suggests that the view of marriage and the American family is changing. This change that has subtly taken place over the course of 50 years has implications targeted to the purchasing decisions of the American people, specifically in the world of real estate.
In the last half-century the percentage of individuals renting property as opposed to owning has increased (Cilluffo, Geiger, & Fry, 2017) and the research to follow outlines the correlation between the change in the housing market and the modern view of the American family. The research that was conducted will primarily be focused on the influence that millennials and women have on the view of the modern American family, and how that has influenced the boost in the rental market.
The purpose of this report is to analyze the changes in American citizens’ view and value of marriage over time, analyze the cause of this changes, provide evidence of how this trend has influenced the housing market, and explain the implications of this trend for real estate professiona...
