Posts Tagged ‘realtytoday’

Baby Boomers Take it on the Chin for High Home Prices

December 4th, 2015 Comments off

baby_boomers____howstuffworksBaby Boomers are not downsizing fast enough, and by not putting their homes on the market, they are creating the inventory shortage that is driving up prices, making it tougher on would-be first-time homebuyers. This is clogging up the “whole chain of homes sales,” according to Sean Becketti, a chief economist at Freddie Mac speaking to realtytoday. Hey, blame it on the Bossa Nova.

They appear to be staying in the family home longer than previous generations,” he wrote in a new outlook report, “and the imbalance between housing demand and supply continues to boost prices.

A Federal Reserve survey of consumer finances from 2013 reveals 55 and older households control two-thirds of all home equity with a value of $8 trillion.

Patrick Simmons of Fannie Mae says there is scant evidence Boomers are leaving their “empty of nesters” homes, noting between 2010 and 2013 the number of Boomer apartment rentals remained static.

While Lawrence Yun, Chief Economist for the National Association of Realtors (NAR) points to the effects of the housing bust and recession, David Crowe, of the National Association of Home Builders (NAHB) says there’s a loopback effect of Boomers discouraged by the high prices so they sit tight.

But Simmons notes it is only temporary, as MHProNews understands. The 32 million homes now in Boomer hands will begin changing hands as they age and move on. Says Simmons, “Their actions will reverberate through the housing market.##

(Photo credit: howstuffworks–Baby Boomer couple)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Large Italian 3D Printer Prints Houses

September 22nd, 2015 Comments off

Big_Delta_3D_printer_reatlytoday__creditWorld’s Advanced Saving Project (WASP) is an Italian company that has built a 40-foot tall, 20-foot wide 3D printer that uses clay and dirt to construct low cost houses. As realtytoday tells MHProNews, the huge machine, termed Big Delta, is a large metal frame with a nozzle in the middle which follows a set pattern to construct a house, layer by layer.

The United Nations estimates that by 2030 there will be an extreme housing shortage requiring dwellings for three billion people, who will also need water and sanitation systems. Rapid urbanization and lack of planning, especially in non-western countries, has contributed to this shortage.

The printer could also be used to build disaster housing on site following a catastrophe. Last year a Chinese company using 3D technology to construct ten modular homes from construction waste within 24 hours.

WASP is hosting a 3D printer event in Italy Sept. 26-27. ##

(Photo credit: realtytoday-large 3D printer in Italy)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily business News-MHProNews.