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.
Ryan Chittum / Columbia Journalism Review / May 30, 2013
Hysteria in pockets of the press over a long-awaited recovery
The top story in all the major papers on Wednesday was news that home prices jumped 11 percent in the first quarter from a year ago, further confirmation that the housing recovery is underway in earnest.
The double-digit home-price increases and return of bidding wars have led to an awful lot of “bubble” talk lately.
Gawker declared yesterday that “The Next Housing Bubble Is About To Pop All Over You.” Gawker doesn’t quite grasp that soaring prices in Silicon Valley and San Francisco are being driven by a flood of newly mintedRead More
Kathleen Hays and Vonnie Quinn / Bloomberg Radio / May 29, 2013
Brad Hunter, chief economist at Metrostudy, says homebuilders are selling move-up homes. Hunter says the market for starter homes is still weak as potential buyers continue to struggle with bad credit. Hunter talks with Bloomberg’s Kathleen Hays and Vonnie Quinn on Bloomberg Radio’s “The Hays Advantage.”Read More
Tim Reid / Reuters / May 28, 2013
The recovery in the housing market is showing a pattern far different from what followed previous downturns, experts say, suggesting that the dramatic price gains of recent months may not be sustainable.
The surge in home prices, seen most recently in the Standard & Poor’s/Case-Shiller home price index released on Tuesday, is at least in part a function of record-low interest rates, extraordinarily low housing supply, and record-high volumes of investor money pouring into single family homes, analysts say.
That means that market fundamentals may not be as healthy as the headlineRead More
Nick Timiraos / The Wall Street Journal / May 22, 2013
The housing market may finally be leaning on the economy’s gas pedal—but it’s also keeping a foot on the brake.
Those expecting a quick return to the “virtuous cycle” by which rising prices, home sales, and housing construction feeds further consumer spending will have to wait until Americans feel more comfortable borrowing and until banks feel more comfortable extending credit, according to new commentary published by analysts Joshua Anderson, Emmanuel S. Sharef, and Grover Burthey at Pacific Investment Management Co., or Pimco, a unit of Allianz SE.
The Pimco strategistsRead More
Stephen Melman / NAHB / May 22, 2013
Existing home sales increased 0.6% in April from an upwardly revised level in March, and were up 9.7% from the same period a year ago. The National Association of Realtors (NAR) reported that April 2013 total existing home sales were at a seasonally adjusted rate of 4.97 million units combined for single-family homes, townhomes, condominiums and co-ops. That compares to 4.94 million units in March, and 4.53 million units during the same period a year ago. All regions were up from a year ago, ranging from 14.9% in the South to 4.3% in the West. For the current month, the only decrease was 3.4% in theRead More