The United States needs new housing, but its building industry isn’t big enough to provide it. The number of residential construction workers is 23 percent lower than in 2006, while higher-skill trades like plumbers, carpenters and electricians are down close to 17 percent. With demand for housing high and the supply of workers short, builders are bidding up prices for the limited number of contractors. Advertisement Construction prices nationwide have risen about 5 percent a year for the past three years……
The global construction industry is a $10 trillion behemoth whose structures determine where people live, how they get to work and what cities look like. It is also one of the world’s least efficient businesses. The construction productivity rate — how much building workers do for each hour of labor they put in — has been flat since 1945, according to the McKinsey Global Institute. Over that period, sectors like agriculture, manufacturing and retail saw their productivity rates surge by as much as 1,500 percent. In other words, while the rest of the economy has been supercharged by machines, computers and robots, construction companies are about as efficient as they were in World War II.
For the first time in a decade, the number of Americans living in suburbs grew faster than that of urban dwellers in 2017, buoyed by young homeowners who are planting roots outside cities, according to the Brookings Institute, a think tank based in Washington, D.C.“
You’re seeing more millennials moving to the suburbs, especially as they have kids,” says Danielle Hale, chief economist at realtor.com®. “People are definitely looking for affordability, better schools, less crime. … More outer suburbs have really put in an effort to develop walkable town centers and other places for people to gather to enjoy similar benefits they’d find in urban centers.”
Realtor.com®’s research team analyzed the ZIP codes outside the nation’s largest cities to find the best suburb for each major metro for families. They factored in housing affordability (defined as less than $400,000 to buy a home for most metros); percentage of children residing in each ZIP code; availability of child care; school rankings; number per capita of restaurants, bars, and museums; crime rates; and reasonable commuting time (considered 70 minutes or less).
Some major housing markets slump with drop in demand and/or increase in supply.
The Housing Bubble Blog » A Bout Of Realism Rather Than The Usual Optimism http://thehousingbubbleblog.com/?p=10314
These hurricane-proof floating homes are packed with green features https://inhabitat.com/these-hurricane-proof-floating-homes-are-packed-with-green-features/
Cape Coral may be the best place to gauge the future of the dream—and to see whether Florida has any hope of overcoming its zany developmental, political and environmental history—because Cape Coral is the ultimate microcosm of Florida. It’s literally a peninsula jutting off the peninsula, the least natural, worst-planned, craziest-growing piece of an unnatural, badly planned, crazy-growing state. Man has sculpted it into an almost comically artificial landscape, with a Seven Islands section featuring seven perfectly rectangular islands and an Eight Lakes neighborhood featuring eight perfectly square lakes. And while much of Florida now yo-yos between routine droughts and routine floods, Cape Coral’s fluctuations are particularly wild. This spring, the city faced a water shortage so dire that its fire department feared it couldn’t rely on its hydrants, yet this summer, the city endured a record-breaking flood. And that “50-year rain event” came two weeks before Irma, which was also supposedly a 50-year event.
Penda, collaborating with wood consultants from CLT-brand Tmber, has unveiled the design of ‘Tree Tower Toronto,’ an 18-story timber-framed mixed-use residential skyscraper for Canada’s largest city. Drawing inspiration from the distinctly Canadian traditional modular construction, including Moshe Safdie’s iconic Habitat 67, the tower is envisioned as a new model of sustainable high-rise architecture that can establish a reconnect urban areas to nature and natural materials.
It took two months longer on average to sell a New York City luxury apartment in 2016 compared with 2015. That’s according to the real-estate agency Olshan Realty, which on Wednesday published its year-end report on the New York residential market.
It backed up other reports released earlier in 2016 that showed the luxury market in Manhattan, New York’s most expensive borough, had a tough year. Unlike other price segments of the housing market, there’s an excess of luxury apartments, giving buyers power to negotiate asking prices lower.
“New York City’s rental market has been mostly steady, except at the high end, where the inventory has risen and rents have drifted down,” the Federal Reserve said in a recent Beige Book based on comments from its contacts.