Household formation in the U.S. is soaring to heights not seen since the economic recovery began. According to the Census Bureau, over the last 12 months, almost 2 million new households were formed in the U.S. Rising household formation is positive for the housing market and the economy. A rising number of households signals greater demand for housing units. The broader economy should also get a kick from rising household formation as newly formed households spend to furnish their homes and stock them with consumables.
Jeremy Jones, CFA, CFP® is the Director of Research at Young Research & Publishing Inc., and the Chief Investment Officer at Richard C. Young & Co., Ltd. Richard C. Young & Co., Ltd. was ranked #10 in CNBC's 2019 Financial Advisor Top 100. Jeremy is also a contributing editor of youngresearch.com.