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.
Frank Anton / BUILDER / July 24, 2013
Some analysts are all aflutter about rising mortgage rates and a decline in existing home sales. Builders and buyers, not so much.
Yes, rates are up, and higher rates make housing less affordable. Couple that with housing price increases in many markets, and affordability is taking the old one, two.
Nonetheless, just last week the NAHB/Wells Fargo Housing Market Index jumped 6 points to 57, the highest reading since January 2006. On top of that, the component of the Index that gauges builders’ sales expectations for the next 6 months gained 7 points to 67, the strongest reading since…2005!Read 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
Nina Patel / REMODELING / July 17, 2013
The typical buyer spent $4,550 within three months of purchasing a home
Within three months of a home purchase, 53% of buyers undertook a home improvement project. According to the 2013 Profile of Buyers’ Home Feature Preferences by the National Association of Realtors, the typical buyer spent $4,550 on various projects. Logically, a higher percentage of buyers of previously-owned homes undertook remodeling projects within three months, compared with those who purchased new homes.
Enthusiastic first-time buyers spent more than repeat buyers on projects costing less than $5,000.Read 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