Lender Wildfire Disaster Updates; Population Demographics Influencing Residential Lending

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Posted To: Pipeline Press

Demographics and Residential Lending Age, population trends, and gender do matter in the home buying process. There, I said it. Someone in their early 20s probably can’t afford a 3,500-square foot home on 5 acres in Virginia with a stable, and someone in their 80s probably doesn’t want it anymore, or may want a cottage out back. Let’s look at some demographic stats that lenders should at least be aware of since they influence the lending business. The U.S. Census Bureau projects the U.S. population will be 327 million on Jan. 1, 2018. This represents an increase of 2,314,238, or 0.71 percent, from New Year’s Day 2017. If you really like numbers, the current rate is the United States experiencing one birth every 8 seconds and one death every 10 seconds. Meanwhile, net international migration…(read more)

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