I talk a lot about the future of home building and for good reason. The key to our future success is strictly based on our ability to understand the emerging trends now. I love reading and hearing the words of others that reiterate this point. My friend and colleague Dan Levitan recently wrote a blog pertaining to this subject. His blog can be read here.
I have quoted a few points bellow from his post that I think ring especially true. You should read the original post though. It’s informative and eccentric complete with a Bob Dylan reference.
Quotes From Dan’s Blog
“The Baby Boomers, which have been the major drivers of housing demand in this country for the past 40 years, have pretty well run their course in regard to conventional housing.”
“The present economic conditions and the ever tightening grip on credit will make it difficult for Gen Y potential home buyers to match the homeownership rates of their predecessors by the time they reach their 30s and 40s unless we act intelligently to assist them.”
“Married couples without children (including empty-nesters) will be the fastest-growing household type, followed closely by single person households.”
So those cute photos of kids on swings may not be the only future of marketing!
“Maintain that cost effectiveness of homes from the 60’s/early 70’s but update them for the 21st century with the design and features that the new markets have come to expect”
“Additionally, as household growth among Hispanics and Asians is anticipated to continue to accelerate, adjustments in community and housing design are required including product for the multi-generational households, which are more common within these ethnic groups.”
These observed trends and ideas are appearing everywhere. Not only on Levitan’s blog and here on Idea Views, but in most publications referring to future development. This is a wake up call for new business. As we continually hope for a market comeback, we need to make sure we are prepared to produce a product that will sell once it does.
Are You Ready For The Market To Comeback?
Of course you are. Who isn’t? Are you ready to produce a great product when it returns? That’s the real question. Shoot me an e-mail about it. I would love to hear what you think. You can also leave a comment below.