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Figure 11. Contributions to slower household growth, 2007-2011, native- <br />born and foreign -born populations (millions of households) <br />Ing <br />-i.0 <br />-2.0 <br />Native Born Foreign Born Total Slowdown <br />0 Population Growth Effects 0 Headship Rate Effects • Total <br />Notes. Change in household growth is measured relative to 2003-7. To reduce volatility, calculations are based <br />on three-year rolling averages. <br />Source: JCHS tabulations of US Census Bureau, Current Population Surveys. <br />Source: State of the Nation's Housing, 2012. The Joint Center for Housing Studies of Harvard University, p. 13. <br />http://www.jchs.harvard.edu/research/state_nations_housing <br />The lower rate of household formation by the native-born population <br />accounts for about 60% of the current slowdown in household growth <br />(Figure 11). Delayed household formation among the under -25 and 25-34 <br />age groups is the strongest driver. More echo boomers are living with <br />their parents; the share of under -25 year olds and 25-34 year olds living <br />with their parents increased by 2.7 percentage points between 2006 and <br />2010. Headship rates among echo boomers are predicted to increase as the <br />economy improves and as they age into older adulthood. The echo <br />boomer generation, more populous than the baby boomers, is expected to <br />be the primary driver of new household formation over the next twenty <br />years. <br />The Joint Center for Housing Studies suggests that an aging population, <br />and of baby boomers in particular, will drive changes in the age <br />distribution of households in all age groups over 55 years. A recent survey <br />of baby boomers showed that more than a quarter plan to relocate into <br />larger homes and 5% plan to move to smaller homes. <br />The younger baby boomers face challenges resulting from the decrease in <br />housing values, which has left many households with mortgages that are <br />higher than the worth of the house. It may take years for the value of these <br />houses to equal or exceed the value of the mortgage. Second home <br />Part 11 — Eugene Housing Needs Analysis ECONorthwest Page 47 <br />