Thursday, May 15, 2025
68.2 F
Roseville

Waiting Out the Housing Recovery

High rents, rising home prices and stagnant incomes have caused an unprecedented number of double households as people have moved in together to make ends meet.

This can be family combinations, friends and/or just roommates living in the same place waiting for something to change.  All these double households are changing the US housing landscape.  Experts believe there would be another 5.4 million U.S. households which are currently lost in basements and guestrooms, sharing space.

According to a study by Zillow, over one-third of working adults are living in double households which has increased the median household up to 1.83 adults, up from 1.75 in 2000.   This trend is concentrated in California, Florida and other markets where rent has increased faster than income.  In the Riverside, California metro area, Zillow believes, under normal circumstances there would be 12.6 percent more households than there are.

In the Sacramento area the percent of double households has increase 9 percent since 2000 to 34.3 percent of working adults.  During that time the median income for adults living in double households has only increased $5,000 to $30,000.  If the number of double households returned to the levels in 2000, today there would be 54,313 more households in Sacramento.

If and when the housing market adjusts in favor of buyers and the economic recovery continues, the lost households represent additional demand in the market as roommates begin to look for a new place to live.  In my opinion, the key to this happening is continued home affordability, more lenient credit standards and an increasing supply of rental and for sale homes all tied to income growth and the economy growing more quickly.



Sphere Las Vegas

Festival! May 16 -18

Support local sports!

Trending

Denio Family Park in Roseville: A welcome addition to local outdoor recreation

Roseville, Calif. - Simple, yet powerful words of encouragement attributed to the Denio Family are etched in the flipside of the new sign denoting Roseville's newest outdoor showcase, Denio Family Park.

Rudy’s Gourmet Mexican Cuisine in Rocklin

At Rudy’s we take real pride in serving our guests authentic Mexican cuisine. We are proud to offer you our tradition of fresh, high quality meals with excellent service.

Wags To Riches Pet Grooming in Rocklin

Established in 1991 Wags to Riches Pet Grooming has been serving the Rocklin, CA and surrounding cities for over 30+ years. We provide grooming, bath, teeth cleaning, anal grand extractions and nail services for cats and dogs.

Twelve Bridges Dental Group in Roseville

Dr. Raj & Insiya Zanzi provide excellent dental care for you & your family in Roseville and Lincoln at their state of the art dental practice.

Music Store in Rocklin

The Music Store, Rocklin has been one the premier band and orchestra musical instrument rental and sales shop for over 27 years.

Topics

Denio Family Park in Roseville: A welcome addition to local outdoor recreation

Roseville, Calif. - Simple, yet powerful words of encouragement attributed to the Denio Family are etched in the flipside of the new sign denoting Roseville's newest outdoor showcase, Denio Family Park.

Rudy’s Gourmet Mexican Cuisine in Rocklin

At Rudy’s we take real pride in serving our guests authentic Mexican cuisine. We are proud to offer you our tradition of fresh, high quality meals with excellent service.

Wags To Riches Pet Grooming in Rocklin

Established in 1991 Wags to Riches Pet Grooming has been serving the Rocklin, CA and surrounding cities for over 30+ years. We provide grooming, bath, teeth cleaning, anal grand extractions and nail services for cats and dogs.

Twelve Bridges Dental Group in Roseville

Dr. Raj & Insiya Zanzi provide excellent dental care for you & your family in Roseville and Lincoln at their state of the art dental practice.

Music Store in Rocklin

The Music Store, Rocklin has been one the premier band and orchestra musical instrument rental and sales shop for over 27 years.

Back Forty Texas BBQ in Roseville

Order food online at Back Forty Texas BBQ in Roseville! Enjoy our cuisine at home or in the office. We offer catering for events - delicious and convenient!

Beltone Hearing Care Center in Roseville

Visit this Beltone hearing aid center and store in Roseville to buy or repair hearing aid products and schedule a free hearing test.

Weekend Festival: 2025 Golden Road Gathering in Placerville

Placerville, Calif.- Golden Road Gathering 2025 announces the initial artist lineup and tickets on-sale for its third edition running May 16-18, 2025 at the El Dorado County Fairgrounds in Placerville, CA.

Related Articles

Local Spotlight

California Recovery Center in Roseville offers treatment for substance abuse and mental health

California Recovery Center (CRC) is a treatment provider for adults with substance abuse and mental health condition, located in Roseville and serving the greater Sacramento region.

Paul Black’s Window Cleaning serving Roseville and South Placer County for over 30 years

Paul Black’s Window Cleaning Inc. has been serving Placer County’s commercial and residential window cleaning needs since 1990.

Roseville Sheet Metal serving community’s heating and air needs for over 70 years

Roseville, Calif. - At Roseville Sheet Metal, we’re proud of our years of service to the Roseville area and look forward to helping you with your air conditioning and heating needs.