“Good News on Housing Permits More Than Offsets the Bad News on Starts”— HIS Global Insight “Housing Starts Decline Again” – Capital Economics “March Multifamily Starts Down; Permits Continue Upward Trend”— KBW “March Construction Numbers Aren’t As Bad as They Look”— Trulia.com “Housing Starts Lacking Consumer Confidence” — Sageworks Inc. Here’s the problem: We are living a tale of two housing markets, single and multi-family. Depending on what kind of builder or investor you are, you’re going to see the housing starts numbers differently. Let’s weed through it first: Total starts fell 5.8 percent, driven by a nearly 20 percent drop in multi-family. Single family was essentially flat month-to-month. But remember, multi-family is a very volatile number and can swing 20-30 percent monthly due to large local projects. Yes, they are both ahead from last year, but 2011 was the worst year in the history of U.S. home building. “The further fall in housing starts in March means that about a third of the past year’s improvement in homebuilding has now been undone. But the continued rise in building permits is an encouraging sign which suggests that housing starts will improve again later this year,” writes Paul Diggle at Capital Economics. Building permits are always seen as a better indicator of construction, or at least more dependable and less influenced by weather. Single family permits dropped 3.5 percent month to month, but multi-family surged ahead 24 percent to the highest level in four years. “The pickup in multifamily construction is taking place most noticeably in the South and West—again, not a big surprise—since 46 of the 50 fastest-growing metro-area populations from 2010 to 2011 were in the South or West, according to the Census Bureau,” writes IHS Global Insight’s Patrick Newport. Clearly we’re still seeing big demand in the multi-family sector, but single family is still faltering. “Single family is more of a restocking issue,” said Morgan Stanley’s Oliver Chang on CNBC. “In order to meet baseline demand, they [builders] have to build.” Chang says real growth in single family demand just isn’t there, due to a still tightening credit market. On the flip side, he claims that distressed housing has stabilized and distressed home prices have bottomed; that’s because investors largely use cash. So if there’s all this demand for single family rentals, and investors are rushing to get in, is there still enough demand for all this multi-family construction? “Bottom line, with the secular decline in home ownership, multi-family construction will be where it’s at for a few years but still only make up about 30 percent of total starts. Single family starts still have the intense competition with foreclosures and now rent seekers,” writes Peter Boockvar of Miller Tabak. So why, as we asked yesterday after the disappointing builder sentiment report, did single family starts, permits and sentiment rise through the fall and the winter only to slam on the breaks? Newport calls that one a “head scratcher,” and adds, “If the builders have gotten ahead of the game, single-family construction will go through a demoralizing slowdown later this year.” Questions? Comments? document.write("");document.write("RealtyCheck"+"@"+"cnbc.com");document.write('');And follow me on Twitter @Diana_Olick
Showing posts with label Single. Show all posts
Showing posts with label Single. Show all posts
Friday, May 11, 2012
A Tale of Two Housing Markets: Single and Multi Family
The numbers are in, the analysts are out, and given the volatility of this particular economic indicator, the spin is at full speed: “Good News on Housing Permits More Than Offsets the Bad News on Starts”— HIS Global Insight “Housing Starts Decline Again” – Capital Economics “March Multifamily Starts Down; Permits Continue Upward Trend”— KBW “March Construction Numbers Aren’t As Bad as They Look”— Trulia.com “Housing Starts Lacking Consumer Confidence” — Sageworks Inc. Here’s the problem: We are living a tale of two housing markets, single and multi-family. Depending on what kind of builder or investor you are, you’re going to see the housing starts numbers differently. Let’s weed through it first: Total starts fell 5.8 percent, driven by a nearly 20 percent drop in multi-family. Single family was essentially flat month-to-month. But remember, multi-family is a very volatile number and can swing 20-30 percent monthly due to large local projects. Yes, they are both ahead from last year, but 2011 was the worst year in the history of U.S. home building. “The further fall in housing starts in March means that about a third of the past year’s improvement in homebuilding has now been undone. But the continued rise in building permits is an encouraging sign which suggests that housing starts will improve again later this year,” writes Paul Diggle at Capital Economics. Building permits are always seen as a better indicator of construction, or at least more dependable and less influenced by weather. Single family permits dropped 3.5 percent month to month, but multi-family surged ahead 24 percent to the highest level in four years. “The pickup in multifamily construction is taking place most noticeably in the South and West—again, not a big surprise—since 46 of the 50 fastest-growing metro-area populations from 2010 to 2011 were in the South or West, according to the Census Bureau,” writes IHS Global Insight’s Patrick Newport. Clearly we’re still seeing big demand in the multi-family sector, but single family is still faltering. “Single family is more of a restocking issue,” said Morgan Stanley’s Oliver Chang on CNBC. “In order to meet baseline demand, they [builders] have to build.” Chang says real growth in single family demand just isn’t there, due to a still tightening credit market. On the flip side, he claims that distressed housing has stabilized and distressed home prices have bottomed; that’s because investors largely use cash. So if there’s all this demand for single family rentals, and investors are rushing to get in, is there still enough demand for all this multi-family construction? “Bottom line, with the secular decline in home ownership, multi-family construction will be where it’s at for a few years but still only make up about 30 percent of total starts. Single family starts still have the intense competition with foreclosures and now rent seekers,” writes Peter Boockvar of Miller Tabak. So why, as we asked yesterday after the disappointing builder sentiment report, did single family starts, permits and sentiment rise through the fall and the winter only to slam on the breaks? Newport calls that one a “head scratcher,” and adds, “If the builders have gotten ahead of the game, single-family construction will go through a demoralizing slowdown later this year.” Questions? Comments? document.write("");document.write("RealtyCheck"+"@"+"cnbc.com");document.write('');And follow me on Twitter @Diana_Olick![]()
“Good News on Housing Permits More Than Offsets the Bad News on Starts”— HIS Global Insight “Housing Starts Decline Again” – Capital Economics “March Multifamily Starts Down; Permits Continue Upward Trend”— KBW “March Construction Numbers Aren’t As Bad as They Look”— Trulia.com “Housing Starts Lacking Consumer Confidence” — Sageworks Inc. Here’s the problem: We are living a tale of two housing markets, single and multi-family. Depending on what kind of builder or investor you are, you’re going to see the housing starts numbers differently. Let’s weed through it first: Total starts fell 5.8 percent, driven by a nearly 20 percent drop in multi-family. Single family was essentially flat month-to-month. But remember, multi-family is a very volatile number and can swing 20-30 percent monthly due to large local projects. Yes, they are both ahead from last year, but 2011 was the worst year in the history of U.S. home building. “The further fall in housing starts in March means that about a third of the past year’s improvement in homebuilding has now been undone. But the continued rise in building permits is an encouraging sign which suggests that housing starts will improve again later this year,” writes Paul Diggle at Capital Economics. Building permits are always seen as a better indicator of construction, or at least more dependable and less influenced by weather. Single family permits dropped 3.5 percent month to month, but multi-family surged ahead 24 percent to the highest level in four years. “The pickup in multifamily construction is taking place most noticeably in the South and West—again, not a big surprise—since 46 of the 50 fastest-growing metro-area populations from 2010 to 2011 were in the South or West, according to the Census Bureau,” writes IHS Global Insight’s Patrick Newport. Clearly we’re still seeing big demand in the multi-family sector, but single family is still faltering. “Single family is more of a restocking issue,” said Morgan Stanley’s Oliver Chang on CNBC. “In order to meet baseline demand, they [builders] have to build.” Chang says real growth in single family demand just isn’t there, due to a still tightening credit market. On the flip side, he claims that distressed housing has stabilized and distressed home prices have bottomed; that’s because investors largely use cash. So if there’s all this demand for single family rentals, and investors are rushing to get in, is there still enough demand for all this multi-family construction? “Bottom line, with the secular decline in home ownership, multi-family construction will be where it’s at for a few years but still only make up about 30 percent of total starts. Single family starts still have the intense competition with foreclosures and now rent seekers,” writes Peter Boockvar of Miller Tabak. So why, as we asked yesterday after the disappointing builder sentiment report, did single family starts, permits and sentiment rise through the fall and the winter only to slam on the breaks? Newport calls that one a “head scratcher,” and adds, “If the builders have gotten ahead of the game, single-family construction will go through a demoralizing slowdown later this year.” Questions? Comments? document.write("");document.write("RealtyCheck"+"@"+"cnbc.com");document.write('');And follow me on Twitter @Diana_Olick
Saturday, January 28, 2012
All the Single Ladies (and Gentlemen): Have you booked a Valentine's Day...
× Like us and you'll find top breaking news in your Facebook newsfeed. Sign up for our daily email newsletter and get top stories and breaking news delivered to your inbox. Wednesday, January 18, 2012, by Sally Kuchar
? Previous: Swanky 147 South Park Promises Lots of Bedrooms and Decks
? Next: The Curbed SF Newsletter Will Protect You From the Rainy Weekend
Friday, May 20, 2011
Globe Trotting: Guy Paints Sistine Chapel in Every Single Room of His House
× Like us and you'll find top breaking news in your Facebook newsfeed. Sign up for our daily email newsletter and get top stories and breaking news delivered to your inbox. Thursday, May 12, 2011, by Sarah Firshein
Most people who wait out the long, slow-moving line into the Sistine Chapel at the Vatican leave with an overwhelming feeling of inferiority, slumped over at the feet of the great Renaissance artist Michelangelo. Not this guy! Nope, a U.K. man named Robert Burns has this to say: "One day I saw some photos of the Vatican in Rome and thought, 'I could do that.' I never looked back."
So Burns did what any ambitious former decorator would do: he set out to recreate 15th-century religious frescoes from Rafael, Correggio, and, of course, Michelangelo in his modest, unassuming brick home, which so happens to be a rental.
Still, Burns has totally thought this thing out, holding fast to the rationale that "[m]ost people nowadays prefer to live in bland, flat-packed homes though. We've lost the art of proper interior decorating." To this effect, he's taken liberties with his muse, even going as far as turning comedian Russell Brand into the likeness of Jesus after he saw Brand's photo in the paper. 'It's maybe a bit irreverent, but Michelangelo used real people as models for his angels, so I don't see any harm in it," Burns explains.
So what's next for this mind of man? "Maybe they should give me my own daytime TV show where I could teach people how to do Renaissance makeovers," he suggests.
Meanwhile, there's one slight issue: the work is painted directly on the plaster walls. If they ever had to move, his wife says, "The new tenant might come in with a roller and paint all the walls magnolia." Dio mio, the horror!
· Home, sweet Rome: Painter and decorator recreates Sistine Chapel in EVERY room of his council house [Daily Mail]
Friday, April 8, 2011
Leviton 47605-ACS J-Box Surge Protective Kit - Single AC Power Module
120V AC power moducle. 120V AC for LIN integrated network structured media power. White.Price: $41.99
Subscribe to:
Posts (Atom)