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.
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
Lauren Schuker Bulm / The Wall Street Journal / July 18, 2013
A new generation is skipping the ‘starter home’ and betting heavily on high-end real estate.
Two years ago, when he was 26, Matt Winter paid a little over $1 million for a four-bedroom, Mediterranean-style house in Culver City, an artsy, formerly industrial section of Los Angeles. This month, the now 28-year-old Mr. Winter, who runs his own interior design firm, paid about $1.7 million for his second home, a three-bedroom, Spanish-revival in Westwood, a neighborhood near UCLA.
“I have always felt that having your money in property is the safest and best thing to do if youRead More
WASHINGTON (July 9, 2013) – Millennials are more confident than any other age group that their recent home purchase was a good financial investment, according to a new study released today. The inaugural 2013 National Association of Realtors® Home Buyer and Seller Generational Trends evaluated the generational differences of recent home buyers and sellers and found that while eight out of 10 recent buyers considered their home purchase a good financial investment, the number was even higher, 85 percent, for younger buyers under the age of 32.
“Homeownership is an investment in yourRead More
Jean Dimeo / BUILDER / June 14, 2013
Despite witnessing housing’s boom and bust, millennials still see home ownership as a good investment.
If all the national surveys I read are on target, my 18-year-old college-bound twin sons will eventually move out of my house after all. Demographic experts say my kids are a lot more like their grandparents than mom and dad in terms of their spending habits and that they embrace thrift. This is all good news for home builders because this tech-savvy generation—numbering 80 million-plus and expected to be 50 percent of the workforce by 2020—is itching to buy houses.
Although millennials,Read More