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<br />DEMOGRAPIDC ANALYSIS <br /> <br />significant as growth forecast in the older adult and senior age cohorts, the age 18 to 24 age seg- <br />ments is forecast to experience moderate growth over the next five years, which will increase <br />demand for workforce housing products such as rental housing and affordably priced town- <br />homes. <br /> <br />Overall, growth in the Market Area will be more modest than initial forecasts suggested. On a <br />lesser scale, growth continues to be in the age segments that need affordable for-sale and rental <br />housing products as well as age-restricted housing products across the service and price point <br />spectrum. <br /> <br />The economic recession has resulted in a significant decline in employment across the Twin Cit- <br />ies Metro Area. Historic projections of employment growth made by the Metropolitan Council <br />will not be realized. Using recent information on employment and general economic forecasts of <br />job recovery, we have revised employment forecasts for the PMA, SMA, Anoka County and the <br />Twin Cities Metro Area. <br /> <br />In general, we forecast that job growth over the next three to four years will be approximately <br />50% ofthe forecast growth. We expect job growth to accelerate beginning in later 2013 and into <br />2014. <br /> <br />MAXFIELD RESEARCH INC. <br /> <br />