Posts Tagged ‘multifamily’

By Katie Barrett

Shifts in the family dynamic over the past 40 years mean a change in what families are looking for in their homes. There are many things builders and specifiers should consider when designing homes for today’s buyers.

The Data

The percentage of homeowners who are married couples has dropped over 20% since 1970. The percentage of homeowners who are unmarried couples, single purchasers, or unrelated adults have each increased 5 to 10% in the same timeframe.

What do buyers need?

TerraSol Homes Garbett Homes 1 537x357 What Builders Need to Know About the Changing Family

Baby Boomers

Boomers, ages 46 to 65, make up 25% of the U.S. population. Younger Baby Boomers with a new found “empty nest” are downsizing to smaller, more practical homes, while older Boomers are investing in second homes. Even though this generation is looking for smaller homes, they are still looking for luxury. Quality over quantity. Low maintenance and upkeep are of great value to them.

Generation X

Xers, ages 30 to 45, are growing their families and therefore looking to grow into larger suburban homes or remodel their existing spaces. This demographic represents 15% of today’s population. Additional Xers may be recently divorced or single, and looking for smaller homes or multifamily options to suit their needs. This group values functionality in their space as well as the ability for customization.

Generation Y

This young generation, ages 17 to 29, is taking advantage of the housing market and investing in their first home. According to the U.S. News & World Report, this demographic will shape the housing market over the next two decades. They make up 30% of the U.S. population and are looking for urban spaces in walkable communities. Technology is also important to this group.

Building Trends

These changes in the market have led to several residential building trends, which we’ll see continue to increase over time:

  • Smaller, luxurious homes are in. Although mansions are making a slight comeback.
  • Open, casual living spaces are taking the place of formal living and dining spaces.
  • The kitchen is the center of the party.
  • Homes with more than one master suite.
  • Mixed-use communities are growing in popularity.

As the idea of a nuclear family changes, so will the needs, and definition, of today’s homebuyer. Are you prepared? What are you seeing in today’s market?

The Best of The Best of 2009

By Building Experts Team

Do you enjoy reading year in review recaps and lists?  Well we’ve collected some of the best covering various topics, from business to social media, and all of the building industry categories in between.

Personally, I don’t like to spend too much time dwelling on the past year, or any of the past years for that matter.  Sure, you can learn a lot by looking back, but the future is ahead of us.

I once heard a wise man say, “Yesterday is history, tomorrow is a mystery, today is a gift, that’s why we call it the present.” That wise man was Mike Ditka.  Here’s to a healthy and happier 2010.  Lets get after it.  Now enjoy the recap.

What Twitter and Facebook’s 2009 Trends Tell Us About Ourselves

Dumbest moments in business 2009

62 Innovative Green Homes of 2009

place seattle 300x219 The Best of The Best of 2009

Place Houses Prefab in the Pacific Northwest

USGBC Announces Recipients of 2009 LEED for Homes Awards

9 Tough Breaks For The Housing Industry in 2009

The Year in Home Builder Buzzwords 2.0

Looking back at 10 housing predictions for 2009. How did they fare?

A turbulent year for the multifamily industry

Top Green Architecture Stories of 2009

wwwinhabitat 300x235 The Best of The Best of 2009

Credit inhabitat

2009 AIA Honor Awards

Interior Design Top News Stories of 2009

The 20 Most Popular Green Stories of 2009

19 Green Building Innovations of 2009

Top 10 Green Building Products of 2009

ENR Annual Photo Contest 2009: The Submissions

enr photo contest 300x214 The Best of The Best of 2009

Photo by Gary DeJolie

Digg’s Top 10 Most Popular Stories of 2009

2009 As Seen Through Twitter Hashtags

Facebook Memology: Top Status Trends of 2009’s 10 Most Read Stories of 2009

Housing Market Collects a Rebound

By Building Experts Team

Housing starts rose in February, but analysts warned that it’s likely short lived. The catalyst was multifamily construction – 82% increase. Clearly an early recovery is not possible with new home sales continuing to decline and the large inventory hangover still haunting everyone, even though some regions, including here in Maryland, are seeing signs of life.

march 09 housing stats Housing Market Collects a Rebound

But if multifamily is driving housing, what does this mean for the American Dream? People who once left the city for the chance to own their own, single family, detached home can no longer afford them. According to a new study from MetLife, 50% of Americans say they are only one month – or only two paychecks – or less away from not being able to meet their financial obligations if they were to lose their job, and more than half of these, a startling 28% of the total respondents, couldn’t survive financially for more than two weeks.

The Dream is now being reevaluated. People want economic stability and a better place for their family to live. Environmentally responsible rules! And having a conscious is cool. Sustainable, multifamily communities that are well thought out are not a dream, but a reality. That means less impact on the environment (driving), more savings (utilities and expenses), and healthier living (proximity to public services).

We strongly recommend you read Michelle Kaufmann’s White Paper: Embracing Thoughtful, Walkable Neighborhoods. (Scroll down to right sidebar)

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