The Demographic Impact of the Housing Crisis

Given that women in their 20's includes many first-time homebuyers (the median age of a first-time homebuyer in the U.S. is 31), it seems likely that the housing crisis is a factor. The map presents the percentage change in fertility rates over the 2007 to 2009 period by state.

The economic impacts of the ongoing housing crisis include lost jobs, economic growth and household wealth.

There are also demographic consequences that result from a weakened housing sector. For example, NAHB estimates that more than 2 million household formations have been delayed due to challenging economic conditions.

Delayed household formations mean that younger families are delaying marriage and having children. This latter effect is clearly seen in the Center for Disease Control National Center for Health Statistics data on U.S births.

In the 1990s, the data indicate a significant decline in the fertility rate due to a policy focus on reducing teenage pregnancy, which was fairly successful.

The more recent decline in U.S. fertility rates, which began in 2007, saw the rate fall from 69.5 to 66.7 in 2009. In contrast to the declines of the 1990s, the largest percentage declines in the current dip come from women in their 20's.

- Courtesy of NAHB