Americans are setting up house at the fastest rate in more than six years, an indication that recession anxiety, which prompted adult children to move in with their parents and single people to postpone marriage, is starting to ease.
The nation added 1.15 million households in the 12 months that ended in September, according to the most recent Census Bureau data. That is a significant rise from the past four years when an average of 650,000 households were formed annually. While what economists call "household formation" is running a little lower than the average 1.25 million added annually during the boom years, the latest data nevertheless represent an important shift.
Rising household formation, which is tied to employment growth, means more students are finding jobs when they leave college, more adult children are leaving their parents' homes and more couples feel confident enough about the future to tie the knot. It could also mean that immigration is picking up.
Read more...More New Households Sprouting Up - WSJ.com
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