Friday, June 22, 2012
"Rental Housing Starts", Comments on Future Shock
Future Shock is a book written by Alvin Toffler, and published in 1970. I'm reading through it and commenting as I go. Feel free to follow (and comment) along!
On p63, Toffler mentions that in 1961, rental units as a percentage of all housing starts had reached 24%, and by 1969 they had exceeded the number of regular housing starts.
Since I'm the curious type, I set out to see what the rate was these days. I'm not sure if this is the same data that Toffler was referring to, but the Commerce Department lists new housing starts for the last year, broken down by single units, 2-4 attached units, and 5+ units. These all may be non-rental properties, but if singles indicates owned, and 2+ indicates rentals (as opposed to, say, townhouses), then the average over the last year has been about 34.5%.
Here's a graphic: