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Economic Forecast 20/20

The need for immigrants is particularly critical in the high-growth states like California, Texas and Florida, where the economy has the opportunity to expand but is hindered by a critical shortage of labor. Austan Goolsbee, a rather renowned economist at the University of Chicago, has stated that half of the Fortune 500 firms were started by immigrants or their children. The long and the short of the matter is that without immigration, our California economy will suffer and be hindered in its long-term economic goals. Read More

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Catalina reports uptick as 2019 ends

The industry’s strength was centered in luxury vinyl tile (LVT) products, while sales of all other flooring products declined. Catalina said in 2019, LVT sales could have increased by over 25 percent in dollars and square feet (Catalina Report on LVT and Other Resilient Flooring). On the other hand, sales of all other flooring products could have declined by 2.9 percent in dollars and 5 percent in square feet, Catalina said, adding the weakest performing sectors were carpet and area rugs, laminate flooring and wood flooring. Conversely, the ceramic tile sector was able to make some inroads in the face of soaring LVT sale Read More

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The growing trend of retrofitting older buildings

There are several reasons why fixing up older buildings has been crowding out new building construction. The U.S. population has been growing more slowly in recent years, and likewise, the number of employed workers in our economy has followed suit. With slower growth in new workers, there is less need to build new office buildings. With slower growth in the number of students entering our secondary schools and colleges, there is less need to build new educational facilities. Read More

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New home sales trend higher in November

"With almost all the 2019 data in, the housing rebound continued through second half of the year," said NAHB chief economist Robert Dietz. "New home sales are running 10 percent higher than in 2018, and high levels of builder confidence point to production gains going into 2020."  Read More

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Single-Family Starts Increase in November

"Market conditions for single-family starts are positive, given a lack of resale inventory, low interest rates and a solid job market," said Greg Ugalde, chairman of the National Association of Home Builders (NAHB). "Builder confidence points to additional gains as we look forward." Read More

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Builder confidence ends year strong

"Builders are continuing to see the housing rebound that began in the spring, supported by a low supply of existing homes, low mortgage rates and a strong labor market," said NAHB chairman Greg Ugalde, a home builder and developer from Torrington, Conn.   Read More

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Myths & Realities: Preparing for a downturn

For the first time in almost a decade, the Leading Indicator for Remodeling Activity (LIRA) produced by the Joint Center for Housing Studies is signaling that we’re not likely to see growth in home improvement spending over the coming year. It’s been a good run for the industry: total national spending on home improvements increased by $180 billion over this past decade, with annual growth averaging almost 6 percent. Read More

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Most Home Building in Millennial Areas, But Pace Lags Rest of Nation

"The out-sized concentration of multifamily construction in areas with a large proportion of millennials is not a surprise, but it is also a reminder of the mismatch between housing wants and housing availability that is challenging the for-sale market," Read More

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New Home Sales Post Strong Pace in October

"Forty-five percent of homes sold in October were priced below $300,000, which is an indication that more millennial buyers are taking advantage of low mortgage rates and entering into the marketplace," Read More

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New home sales post strong pace in October

"Forty-five percent of homes sold in October were priced below $300,000, which is an indication that more millennial buyers are taking advantage of low mortgage rates and entering into the marketplace," Read More