Unlike their generational predecessors—the so-called Gen-Xers—today’s “millennials” are considered a better target for home builders. According to an article in SFGate.com, 81 percent of millennials in the sample area surveyed (San Francisco) want to buy a home. In contrast, only 68 percent of Generation Xers wish for homeownership, compared to 72 percent of those 65 [...]
According to the National Association of Home Builders’ (NAHB) recent analysis of Census Construction Spending data, total residential construction spending continued to rise this past August to a seasonally adjusted annual rate of $390 billion. Private single-family spending rose 14 percent higher on a year-over-year basis, while multifamily construction spending rebounded in the same month, [...]
As builders plan their 2014 budgets, uncertainty clouds the year’s initial outlook, based on the market-wide slowdown that ended the second-half of 2013. Observers hope that downturn was an aberration primarily due to the government shutdown, but no one knows for sure. “Did that affect people making the biggest financial decision of their life?” commented [...]
