Industry News

Why millennials are flocking to Rust Belt real estate

Tom Oslund

As real estate prices in major U.S. cities continue to soar, some young buyers and renters have decided to take their business elsewhere. They're investing in homes in such states as Ohio, Michigan and Wisconsin, experts say, in search of more affordable living and new places to plant down roots.

The part of the U.S. otherwise known as the Rust Belt has been synonymous with hard times...

Gen Z gearing up to be homebuyers

Tom Oslund

The oldest members of Generation Z are setting their sights on home ownership nearly as often as millennials, according to a new survey.Property Shark, which provides data to real estate professionals, found in a recent survey that 83 percent of Gen Zers born between 1995 and 1999 plan to buy a home in the next five years. The survey defined Gen Z as those born from 1995 to 2010, but it...

More Builders’ Profits Taking a Hit from Labor Shortages

Tom Oslund

A recent NAHB survey found that over the last year, the average cost of builder-employed laborers increased 5.2% and the cost of subcontractor work rose 7.2%.

Comparing those numbers to 2018’s overall inflation (just 2.9%) helps explain why the pace of residential construction continues to be flat: The cost increases are not only resulting in higher home prices for buyers, but a growing...