09/19/2024 | News release | Distributed by Public on 09/19/2024 12:03
CBO discusses the outlook for housing starts over the next 30 years-that is, the number of new single-family and multifamily housing units on which construction will be started-and describes the methodology behind its projections.
Housing starts, or the commencement of construction of new single-family and multifamily housing units, are an important component of the Congressional Budget Office's forecast of the U.S. economy. This report discusses the outlook for housing starts over the next 30 years. Population growth is the most important driver of that long-run outlook, but several other factors affect it as well.
CBO's assessment of the outlook for housing starts includes the following projections:
This report also describes the methods that CBO uses to produce the outlook for housing starts and to examine different assumptions that could alter that outlook.