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.
Jean Dimeo / June 7, 2013
Low-interest rates and shared payments are allowing young adults to buy their first homes with mulitple upgrades.
Millennials are the largest demographic group behind the baby boomers, and a growing number of national and regional home builders are—or soon will be—courting them with technology upgrades and multigenerational spaces as many of these 18 to 34 year olds prepare to buy their first house.
During an interview at PCBC in San Diego this week, Doug Bauer, CEO of Tri Pointe Homes, noted that a recent survey revealed that 84% of millennials want to buy a home. “That’s good for us,”Read More
Francesca Cooke / CoStar / May 15, 2013
Urban populations across the country are swelling, often much faster than reasonably priced housing options, and cities are left grappling with serious affordability shortages. The young adult cohort, with its limited incomes and mountain of college debt, is especially feeling the pinch.
Many Echo Boomers have no choice but to live in their parents’ basements or double up with roommates, but their longing to spread their wings has not abated. According to the 2010 U.S. Census, 27% of households are singles living alone, up from 17% in 1970.
In response to this shift in lifestyle andRead More
Kris Hudson / The Wall Street Journal / May 15, 2013
Many housing observers agree that Generation Y—people from 18 to 34 years of age—largely prefers downtown living, often in rental apartments with easy access to walkable neighborhoods and public transportation.
The real question is whether they’ll outgrow those tastes once they earn higher salaries and have kids.
The Urban Land Institute, or ULI, the land-use association that long has championed dense development over sprawl, this week plans to release the results of a survey of generational housing preferences, highlighting those of Generation Y. The survey, to be released atRead More
Meg Handley / US News & World Report / April 26, 2013
First-time homebuyers are crucial to any housing market, not least because they allow existing homeowners to move out of starter homes and into their next place, keeping the real estate cycle moving.
“First-time homebuyers are a catalyst for the rest of the market,” says Cara Ameer, a Florida-based broker associate and realtor with Coldwell Banker. “They’re really the domino that triggers other buyers–they have a contagion effect.”
But a variety of factors are keeping homeownershipRead More
Patrick Mai / Metrostudy / April 23, 2013
3 Extraordinary Trends Occurring in Today’s Housing Market
Since the beginning of the recovery, the dynamics of the housing market have shifted drastically. Inventory of new single family homes, recently considered to be grossly oversupplied, has thinned out to historically low levels (below equilibrium in many markets). Listings on the resale market have also evaporated; now sellers, instead of buyers, have the upper hand at the negotiating table. Also, median home prices are on the rise as a result of supply constraints, a diminished volume of distressed sales, and renewed demandRead More