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.
Teresa Burney / BUILDER / July 18, 2013
Unions promise trained carpenters when housing market rebounds.
When home builders need carpenters, union trained ones will be available in the markets where unions are active, says Douglas J. McCarron, general president of the United Brotherhood of Carpenters.
With 250 training centers, an extensive apprenticeship program, and recruiting programs at community colleges and high schools, the union has the infrastructure in place to gear up quickly to provide the next generation of carpenters, McCarron said.
And he’s not worried about lack of candidates — the organization’sRead More
Brent Nyitray / Market Realist / July 16, 2013
Low household formation numbers over the past five years will drive homebuilder demand going forward
Since the financial crisis began, demand for new construction has fallen, as household formation numbers have dropped. The low household formation numbers have been driven by a poor economy—not by demographics. This represents pent-up demand that must be satisfied in the future.
This series will discuss household formation numbers historically and over the past few years. We’ll compare those numbers with housing starts and show that there’s tremendous pent-up demand for housing,Read More
Jonathan Smoke / Hanley Wood / July 16, 2013
The Commerce Department releases new permits, starts, and completions data Wednesday morning. Let’s anticipate what we might see in the Wednesday report by looking at some real, market level permit data.
The survey methodology behind the Commerce Department data often causes the monthly metrics to be subject to significant revisions. More telling, and often ignored by the mainstream, is that the monthly changes are more often than not within the confidence interval, meaning that the monthly data are inconclusive about the direction and extent of change month over month.
The consensusRead More
John Caulfield / BUILDER / July 15, 2013
The Living Building Challenge takes aim at production builders.
Is “the world’s most rigorous building standard” ready for its close-up on the residential construction stage? That’s how the International Living Future Institute describes the construction standards of its Living Building Challenge.
Structures certified under the Challenge have achieved net zero energy, water and waste for a full year of owner occupancy. None of the building materials used to construct the buildings are on the Challenge’s “Red List,” which singles out substances and chemicalsRead More
David Crowe / NAHB / July 11, 2013
Rising home prices and increasing residential construction have been the clearest signs of the housing rebound that took hold in 2012 and continues into 2013. Data from the start of the summer are consistent with these long-run trends, offering a bright spot in otherwise lackluster economic environment.
Total private residential construction spending increased to a seasonally adjusted annual rate of $328.6 billion in May 2013, the fastest pace of residential construction since October 2008. The reading is 1.2% above the positively revised April estimate and 22% higher over a year ago.Read More