When researching our new book Big Shifts Ahead, we learned that 40% of all kids are born to an unmarried mom, and 32% of all kids live with only one parent. Single-parenting has been on the rise for decades. The expenses of raising children alone make it very difficult to become a homeowner.
Moms are three times as likely to be the single-parent, but single dads are rising at a faster rate.
- 24% of kids live primarily with Mom (a 400% increase since 1960)
- 8% of kids live with Dad (a 900% increase since 1960).
In our book, we identified four external influencers that have shifted demographics over time.
Most articles on falling homeownership have focused on two influencers – government policy and the economy. Clearly, societal shifts (one of the four influencers) has also played a large role.
Many have questioned our forecast of a sub 61% homeownership rate by 2025 as overly bearish. If they would only just run the math themselves, they would realize that is where American homeownership is trending.