With regards to the sales of existing homes, the ULI report states that the only people who are risk for losses are those who were forced to sell quickly. The current report points out that the lack of affordability of homes coupled with high inventory levels has caused a condition known as "housing angst."
One trend that may be worth watching is what is referred to as "Green Building." The move to construct more energy efficient buildings (both business and residential) can help reduce energy consumption as well as cut energy costs for home and business owners. Buildings and homes account for 40% of this country's energy consumption.
Owner-occupied new construction is another trend to watch is some major urban areas. San Francisco, Los Angeles, Austin, New York City, Jacksonville, FL, San Jose, Houston, San Antonio, Seattle and Washington, D.C. are among the trendsetting areas. The city of Denver is highlighted for strong development prospects largely due to the area's growing light rail system, which will link the downtown area with the airport and outlying areas. Infill, a term which describes new construction which takes place in existing urban areas appeals to both young adults just starting out as well as the empty nesters that wish to downsize, yet remain in the same city. Any development that is associated with transit expansion is described as "can't miss."
In the area of residential construction, types of properties that offer the best opportunities are:
Second and Vacation homes
In-City and In-Fill housing projects
Detached homes built targeting the moderate income range.
Attached homes for single families.
Back to Real Estate News
|
