Consumer credit outstanding grew at a seasonal adjusted annual rate of 5.7% in April 2023 per the Federal Reserve’s latest G.19 Consumer Credit report, as revolving and nonrevolving debt grew at 13.1% and 3.2%, respectively (SAAR). Total consumer credit outstanding stands at $4.8 trillion (not seasonally adjusted), with $1.2 trillion in revolving debt and $3.6 trillion in non-revolving debt (NSA). The… Read More ›

Obtaining lots to build on remains a challenge for many of NAHB’s builders, although the shortages are not quite as widespread as they were in 2021.  Responding to special questions on the May 2023 survey for the NAHB/Wells Fargo Housing Market Index, 42 percent of single-family builders characterized the supply of lots simply as low, and another 25 percent said… Read More ›

The client and his family bought an old firehouse and wanted to keep the character of it, while incorporating their modern and creative style. They spent a while fixing up the firehouse and restoring original details such as wainscot, flooring, etc. They even repurposed wood they had torn out into the shelves on either side of the range. Supply issues resulted in a different cabinet design than anticipated, which the client was very happy with. Interior Designer | KSI Kitchen &…

For their residence in Beverly Hills, the clients desired a home that reflects their love for formal French chateaux and contemporary design. A hybrid language was created by taking elements from traditional French architecture and simplifying them to their purest forms. The front façade recalls the symmetry and balance of this classic style, but the detailed French elements have been simplified and reinterpreted. The hybrid theme continues inside the home, where simple steps and light coves become a contemporary interpretation…

Solid nominal wage gains (unadjusted for inflation) combined with lower mortgage rates and home prices helped to boost housing affordability in the first quarter of 2023, but ongoing building material supply chain issues and expected cooling of wage growth signal ongoing concerns for affordability conditions in the year ahead. According to the NAHB/Wells Fargo Housing Opportunity Index (HOI), 45.6% of… Read More ›

1288 Howard Street is a new, mixed-use residential, office, and retail development in the booming Mid-Market area of San Francisco. The focal point of the building is a landscaped, pedestrian alley lined with residences that connects Howard and Natoma Streets. Located on an acre site, 1288 Howard provides 129 luxury condominium units, 17 onsite inclusionary affordable housing units and 14,000 square feet of commercial space. At five stories, the residential units comprise loft/studios, junior studios, conventional one- and two-bedroom flats,…

The latest labor force statistics from the 2021 American Community Survey show that the construction industry continues to struggle to attract younger workers. While workers under the age of 25 comprised 13.6% of the US labor force, their share in the construction industry reached only 10.0% in 2021. Meanwhile, the share of older construction workers ages 55+ increased from less… Read More ›

While single-family home building has slowed significantly from pandemic-fueled highs because of higher interest rates and construction costs, the slowdown is less pronounced in lower density markets. On the other hand, multifamily market growth remained strong throughout much of the nation, according to the latest findings from the National Association of Home Builders (NAHB) Home Building Geography Index (HBGI) for… Read More ›

NAHB analysis of the most recent 2021 American Community Survey (ACS) data reveals that the median age of construction workers is 42, one year older than a typical worker in the national labor force.  Attracting skilled labor is still the primary long-term goal for construction, even though a slowing housing market has eased some pressure on current tight labor market… Read More ›

The Hub is the welcome center for the new Kinston master-planned community — the all-important “third place” for residents and their friends and families. It is situated on a grassy hillside that looks west toward the Front Range mountains of northern Colorado. Although it is a new build, its design is meant to suggest an adaptive reuse of two older buildings: an agrarian, farmhouse-style structure, and a brick, mercantile structure. Knitted together by a glass entryway, these two components create…