The household creation rate has been increasing, recently reaching the highest level since before the recession began in 2007, The Wall Street Journal reports.
Usually it’s the 25 to 34 year-olds that make up the bulk of household formation. But according to econimist Jed Kolko of the Terner Center for Housing Innovation at the University of California, Berkeley, this time it’s Americans between 65 and 74 year olds that made up two-thirds of the 1 million households created during the year ended in June.
Senior Americans created 860,000 households, while younger ones between the ages of 25 and 34 only created 159,000.
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