Goldman Sachs’ economists Jan Hatzius and Zach Pandl made eight economic predictions for 2016, one of which is that home building will remain the fastest-growing sector, HousingWire reports.
Hatzius and Pandl say that the country’s population is expected to increase by about 2.6 million over the next year, and that will translate into growth in number of households by about 1.0 to 1.1 million. Add to that an aging population that’s more likely to live independently, and the baseline forecast for household formation rises to 1.1 to 1.2 million.
The two economists also predict that U.S. growth will remain above trend and that the consumer will stay strong.
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