News & Opinions
The latest news and insights from Hanley Wood’s outspoken experts and key thought-leaders throughout the residential and commercial design and construction industry.
Paul Takahashi / Houston Business Journal / May 29, 2015
Houston homebuilders are preparing for a wave of Millennial buyers to enter the housing market in the coming years.
Millennials — those between 20 and 37 years old — have long delayed homeownership. Housing experts attribute this trend to myriad reasons, including student loan debt, the recession and a national movement toward city living.
However, economists predict Millennials — the largest generation in American history — will begin to buy homes en masse over the next five years.
Skyrocketing apartment rents are pushing more Millennials into homeownership, and as more MillennialsRead More
Ned Cramer / ARCHITECT / May 4, 2015Read More
Katie Gloede / BUILDER / March 17, 2015
A portion of Generation Y expects to become first-time home buyers in the near future. Nearly 30% of millennials plan to buy their first house within the next five years, according to a recent survey conducted by Choice Home Warranty. The survey, which asked 1,002 respondents nationwide about their plans to buy a house, was conducted in January across relevant content platforms via Google Consumer Surveys. A total of 445 female and 557 male respondents, ages 18 to 34, weighed in on their plans to buy a house. In addition to age, gender, and home buying plans, the survey also gathered respondents’Read More
Josh Miller / Eye On Housing / September 10, 2014
A record number of millennials, individuals aged 18 to 34 years, are delaying household formation. This Great Delay, instead of the forbearance of impending doom, may actually be a sign of prudent economic decision making from a generation coming of age during turbulent economic times. Instead of forming a household, many have enrolled in college or stayed in school to pursue a college degree. This personal investment has short-run and long-run implications of great interest to the housing market.
When young Americans delay household formation, they often delay renting or buying aRead More
David Crowe / NAHB / September 6, 2013
The long and deep housing recession left many homeowners remaining in place and potential first time home buyers continuing to rent or stay with parents or friends.
In a recent article, NAHB’s Heather Taylor reported the number and distribution of first time and repeat movers in American Housing Survey odd numbered years 2001 through 2011. The AHS reports 10 million purchased in the two years prior to the 2001 survey but home buying declined to 6.8 million households who purchased a home in the two years prior to the 2011 survey. Between 2001 and 2011, the population of individuals who couldRead More