Fox Business says there are several factors to consider in the housing market this summer. Mortgage rates are at near record lows, and probably will remain low for the summer unless the economy shows signs of strengthening. From 2006 to 2010, the number of owner households dropped by 201,000 each …
From Florida, Treasure Coast Palm reports that the Joint Center for Housing Studies at Harvard University says that as the burden of taking care of older and larger homes with large lawns weighs on seniors and aging boomers, they will be seeking single-level homes with better access to shopping, transportation …
Realtor Magazine, the official publication of the National Association of Realtors (NAR), reports Patrick Phillips, CEO (Chief Executive Officer) of Urban Land Institute, says the nation’s population is expected to grow by 150 million over the next 40 years. Speaking at a NAR event, he says the trend is to …
LinkedIn reports from Realty Trac that notices for mortgage payment defaults fell to their lowest level in five years. Foreclosure filings fell 33 percent from May a year ago, and bank repossessions are down nearly 30 percent from May 2012. Banks are expected to repossess 20 percent fewer homes this …
Good Signs for the Housing Recovery—but Good Enough? Read More
The New York Times notes that while the term prefab or modular has long conjured images of cheap and flimsy, today’s builders are learning that modular construction uses the same materials as traditional building, and can save 20 percent in costs as well as months of construction. In Philadelphia, an …
Modular Construction Preferred in Pennsylvania and New York Read More
National Mortgage News reports the Commerce Department says housing starts increased 3.5 percent in May, following a 3.4 percent drop for April, to a seasonally adjusted annual rate of 560,000 units. This figure includes single-family and multi-family units. Multifamily housing starts alone rose 24 percent over May of 2010, to …
Housing Starts, Building Permits Up, but Builder Confidence Languishes Read More
The Biz Coach says The Boston Consulting Group (BCG) reports wages in China are rising 15 to 20 percent a year, shrinking the difference between U.S. and Chinese pay. This disparity, combined with growing initiatives in several U.S. states to increase efficiency in production, will ultimately mean the return of …
The Boston Globe reports Harvard University’s Joint Center for Housing Studies notes the rate of home ownership in the U.S. fell below 67 percent for the first time since 1998. The report says this results in the demand for rental housing to increase, driving up rents, which housing advocates say …
More Rental Housing a Boost to the Economy? Can it Be? Read More
InmanNews reports the modular house built on site at Chicago’s Museum of Science and Industry in 2008 has had another interior facelift. This year’s theme for the “Smart Home,” as it is called, is “green” and high tech. The upholstery on the couch is made of old automobile tires, and …
Realtor Mag, the National Association of Realtors (NAR) publication, says Harvard University’s Joint Center for Housing Studies, in its latest annual “State of the Nation’s Housing” summary, cites population growth and shifting demand driving the need for more homes. Household growth averaged 1.2 million each year from 2000-2007, then dropped …
Harvard Study Asserts 16 Million New Homes Needed in Ten Years Read More
Altos Research says the housing market is undergoing ‘The Catfish Recovery,” meaning housing prices will stabilize near the bottom, and stay there awhile, much like a catfish is a bottom feeder swimming around somewhat randomly, yet sustained. In noting the relative constancy of the median price of housing over time, …
The National Association of Home Builders (NAHB) says its 55+ Housing Market Index indicates that the expectation for single-family homes construction remains low. This quarterly report by the NAHB Economics and Housing Policy Group says people who may want to live in a smaller home cannot sell the larger one …
Survey Says Single-family Building Stalled, Multi-Family Building Expanding Read More
HousingWire reports the three largest cities in Ohio – Cleveland, Cincinnati, and Columbus – accounted for 45,000 foreclosures since 2009. A national network of community organizations, National People’s Action (NPA), in a survey of foreclosed properties over a 27 month period, determined that each foreclosure in the Buckeye state brought …
Study Shows Ohio Cities Hit Hard by Housing Crisis Read More
Senior News reports that the American Association of Retired Persons (AARP) is trying to determine what kind of housing Boomers will want in the next 20 years, and what they can afford. The average age of people needing assisted-type care is 85, so that leaves a potential 20-year span for …
National Public Radio reports that IBISWorld research indicates that manufactured housing dealers lost $4,538,000 in 2010, which reflects a decline of 73.7 percent in the decade since 2000. It suggests part of the problem resulted from the housing bubble when people were buying conventional homes, but it also says the …
IBISWorld Forecasts More Doom and Gloom for Manufactured Housing Read More
The New York Post reports the newest look on the beaches in the Tony Hamptons East End is housing made from steel shipping containers. Not terribly different from modular homes, the containers are sent to a facility in Pennsylvania for repurposing, and then sent on to their final destination. The …
Magic Wand Turns Shipping Crates into Snappy Homes Read More
The New York Times reports that in some areas of the country, the land that manufactured housing communities sit on is becoming more valuable, and owners may be interested in selling to developers for apartments and condominiums. Residents, especially retirees, are concerned that rents may increase beyond their affordability. Several …
Resident Ownership of Communities Protects from Developers Read More
ShoreNewsToday.com reports that construction permits for new homes in Avalon, New Jersey, increased from 534 in 2009 to 591 in 2010. Borough construction official John Tracy said, “Modular homes are catching on. Ten permits were given for modular homes in 2010. This year, there are already 14.” Some question the …
CNNMoney.com says the rental vacancy rate has dropped below 10 percent, and by 2012, may be as low as five percent, according to Peggy Alford of Rent.com. The Commerce Department statistics report that rents have averaged an increase of below one percent a year for a decade. Alford expects them …
Renew Your Lease Now – Rental Rates Starting to Climb Read More
According to a recent survey of builders and consumers by the National Association of Home Builders (NAHB), by 2015 half of all builders think the living room will be merged with other rooms in the home. Nearly a third say it will vanish entirely. The entryway and dining room will …
