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.
The Big Builder Back-to-School Learning Curve
John McManus / Builder / August 18, 2014
Housing’s recovery pattern, well-established over the past 18 months, since the downturn’s most dire days shook the cosmos in the latter half of the last decade, has virtually irrefutable definition. With the exception of a handful of markets fuel-injected by energy- and tech-driven jobs growth, the “rebound,” such that it is, has confined itself to places thick with people who are moving, purchasing, and buying new because they can rather than because they need to.
As a result, other than in those exceptional jobs-growth markets–Texas, Florida, Georgia, the Carolinas, the Bay Area, and North Dakota–where secure income growth and prospects have been yanking young people off housing’s sidelines and into the entry-level homeownership fray, discretionary buyers–ones who are virtually or entirely unencumbered by either current debt obligations, geographical constraints, or future cash-flow concerns–have made up the lion’s share of the driving force in the “A Lot Recovery of 2013-14.”