12 Predictions for Home Building
Builder Magazine recently published an excellent article by industry expert, George Casey titled, “12 Predictions for Home Building.” The home building industry has recovered since the housing market crash of 2008 but we are still no where near the levels we should be at or near anything like where we were prior to the crash. There are many reasons why the industry has not fully recovered but we have to come up with innovative ways now to get back to building more housing.
There are lots of takeaways from Mr. Casey’s piece, but a couple of things particularly standout in my mind:
- More of the home building process will move to the factory where we’ll have more pre-built homes that will be assembled on site. This will help drive down costs as well as deal with the labor shortage
- Builders, developers and REALTORS need to work closely with government officials to help come up with more innovative housing options. What you see right now is often the result of current regulations. A big area of opportunity will be in redeveloping or converting large homes in to multi-unit rentals.
- Trends in terms of government incentives is no longer driving people toward homeownership…new rental models need to be considered. We’ll likely see new kinds of companies, players, investors, JVs come in to play to make this work…might even see triple net leases with longer terms for rental housing. Interesting.
Anyway, there’s a lot in the article by Mr. Casey. I would highly recommend you take the time to read it.
Excellent insight by George Casey – 2020 Vision: 12 Predictions For Home Building’s Next Decade | Builder Magazine #newconstruction #homebuilding #builders #residentialdevelopment #housing #homes #realestate https://t.co/cie39iwFWO
— John Murphy REALTOR® Greenville, SC (@GVLHomesandLand) January 30, 2020
About The Author
John Murphy
Husband of 34 years to my college sweetheart, Janet Murphy (@janetmurphydesign on Instagram). Together we have 6 wonderful children from ages 15-31 and 5 grandchildren. I’ve been a licensed REALTOR since 2003 and broker since 2007. I also am a cost segregation specialist helping building owners and real estate investors maximize their tax deductions, save thousands on their income taxes and increase their cash flow. If you’re a building owner you probably haven’t done a study…let’s connect. There is no obligation. We can run an estimate for you and really every building should be evaluated if the basis is over $150,000. I can work all over the country and not just here in the Upstate. We relocated to Greenville, SC for the lifestyle, lower cost of living, amazing amenities in the area and the growth opportunity for business and real estate. We absolutely love it here!
All opinions are expressly my own and do not represent either eXp Realty LLC, Cost Segregation Services, Inc. or any other company, organization or group that I might be affiliated with.