This study examines how demographic changes lead to different household structures and housing choices among various age groups. It argues that the cointegration of demography, the housing market, and wealth has shaped housing demand in the country over time. The results have important, often unrecognized implications for housing policy. Estimating housing needs without a contextual analysis of household formation can be misleading; thus, the government must connect demographic changes to housing demand to ensure the correct policy framework is established that balances the needs of the productive sector with those of the growing elderly population in terms of housing consumption.
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