About 6 years ago I read an article predicting what housing would look like in 2050. At that time, the world’s population had just hit 7.3 billion. Now, it’s 8 billion. Also at that time, the UN predicted the population would be 9 billion by 2050. Now it predicts 9.7 billion.
Many of the thoughts about housing from that article are already coming true, and it’s not close to 2050 yet. One prediction was that by 2050, homes would be too expensive for individuals to buy alone (which was possible 6 years ago). There would be a shift to co-buying, multi-unit conversions, and buying tiny. That’s happening faster than expected.
6 years ago, it was thought that ocean-front homes would be underwater, while small cities would explode in size. Today, both predictions are ahead of schedule. Also, the kind of fire danger we see today wasn’t on the radar 6 years ago.
The article also predicted boomer neighborhoods would stay intact. I’m not so sure now, as I see single-family neighborhoods being carved up by owners who are building granny flats and housing for their kids. Old homes are being torn down and rebuilt smaller with more tech. The advent of “AI everything” means that smart homes will change in ways we can’t imagine now.
What does all this mean for you? If possible, plan ahead. Maybe buy near a small college where rents can still cover the mortgage. Or buy now in a place you want to retire. Build a granny flat if you have the space. Sell your small home and upsize, giving you more options later. Or consider a move to a climate-stable location before others do. Of course, 2050 is 27 years away, and you might not want to think about it. But if you do, your future self will thank you, not to mention your kids and grandkids. Let me know if I can help with any real estate needs. ~ Valerie