BUILDER NEWS Paradigm shift: How universal thinking can help customers understand aging in place A ging in place has a perception problem. The number of older Americans is steadily growing as the baby boomer generation ages. Yet that group has, by and large, proven reluctant to renovate their homes to accommodate eventual changes in mobility, even though many say they want to stay in their current residence for the long-term. Budget is one concern holding them back, as is the hesitance to be proactive about meeting their own future needs. Builders and remodelers can address clients’ desire to age in place while allaying their concern over the value of the related investment by broadening its scope. By shifting the focus from getting old to getting smart, builders and remodelers interviewed by Construction Dive said they can help clients understand how accessible-design features — such as shower grab bars, wider doorways and zero-step entrances — can be useful to all ages and physical conditions while boosting the value of their home. Read More Millennials, baby boomers to drive remodeling growth B aby boomers and millennials will be driving forces behind solid growth in the remodeling market that is projected through 2025, according to a new report from the Harvard Joint Center for Housing Studies. The residential remodeling market peaked at $340 billion in 2015, and spending is expected to grow 2% annually through 2025. However, general growth in homeownership in the coming years is likely to be weighted toward groups that are known to spend less, relatively, on home upgrades: minority owners, older owners and households without children. Boomers are expected to remodel their homes for accessibility. The share of spending by the 55-plus segment is forecast to grow from 31% of total remodeling dollars in 2005 to 56% by 2025. Millennials, who are likely to purchase existing homes requiring renovations, will focus on factors like energy-efficiency, material health and home automation, affording remodelers an opportunity to explore such niches. Read More Lumber Prices Rise to Start 2017 T he price of lumber, from framing to structural panels, has increased in recent weeks with some prices rising more than 30%. Softwood lumber prices have been relatively steady since 2014. During this period, the largest one-week price increase of framing lumber (+6.8%), as measured by the Random Lengths Framing Lumber Composite Index, occurred in the middle of the recent price escalation.[1] The largest one-month swing of softwood lumber during this period was 2.9% in 2014 according to the Bureau of Labor Statistics Producer Price Index(PPI) (this index will not capture the recent monthly increases until the February data is released in mid-March).[2] Read More 30 | HBRA of Fairfield County | MARCH 2017
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