Abstract
This paper aims to investigate how demographics determine the amount and the quality of housing services demanded. It contributes to the current debate in three ways: First, based on a very detailed 2001 cross-section of English households, it finds that human capital is a key driver for housing demand. Second, it refines the existing methodology by distinguishing between life-cycle variables that are expected to change with age for each household, and cohort variables, that are determined by the household's birth-cohort and not by age. Third, its findings are relevant to other European countries that already experience population shrinkage at an unprecedented magnitude. A scenario analysis with different population pro jections shows that in case of stagnating household numbers total demand can still increase as the population grows older.
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