Read: U.S. Existing Home Sales Rise 10%, More Than Forecast (Update2) by Shobhana Chandra
This is an interesting article highlighting different trends in custom home building with respect to what home buyers need versus what they would want. Each example shows how the builder can save by cutting out certain aspects of a custom home that might have been a standard feature pre-recession.
The senate has voted to extend the tax credit for first time buyers and this time has included people who have owned a home for at least the past 5 years. Buyers who have owned their home for at least 5 years may be eligible for a tax credit of up to $6500.
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A very sizable chunk of the government bailout packages are going towards construction related projects of all scopes and sizes. From road work to green energy credits, the list gos on and on. The question is, what impact will it actually have on construction businesses across the nation?
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1.) Job Loss is Easing
Bad news: Unemployment stands at 9.8%, the highest in two and a half decades. Good news: We’re reaching the turning point. Indications are that job losses are beginning to ebb, seasonal hirings may further improve unemployment, and a just released survey by the National Association of Business Economics suggests that many employers are set to start hiring again. In fact, it’s the first positive survey they’ve released since summer of 2008.
2.) Builder’s Stock Prices are on the Mend
While the nation’s largest home builders are by no means in the clear, their stock prices have improved drastically from several months ago. An increase in capital will help keep the lending wolves at bay, and position the big players to make strong moves once the demand situation rights itself.
Here’s a one year snap shot of the five largest U.S. home builders:
D.R. Horton
Pulte Homes
Lennar Corp.
Centex
KB Homes
3.) Pent Up Demand
Let’s face it: shingles are rated at 15 or 30 years, and commercial HVAC units don’t last indefinitely. At some point in the near future the maintenance, repairs and upgrades that have been put on the back burner will become unavoidable. And it’s not just roofing and mechanicals – paint, electrical systems, appliances, decking, and flooring (to name a few) will all require upgrades or retrofits on thousands of buildings in the upcoming years.
Even in places like Los Angeles and New Orleans, the near stand-still in construction over the last few years has created demand for new construction that has not been addressed.
Don’t believe us? Just ask the Wall Street Journal…
Some highlights:
While the supply of fossil fuels decrease and the cost increases, builders and homeowners are finding new ways to save installing green windows and doors.
GC builds his own solar + wind generator system to power his site, saves him $5,000 in gasoline a year per unit:
Great article on startup builders that are taking advantage of the market we live in. This article outlines different methods each are taking and how they are benefiting from starting their respective companies at the right time.
Read Here – Builder Online
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