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After the past recessions that have hindered the housing market, many people are wondering where the housing market may be headed in the next few years. While there are various opinions on the exact direction and the time frame that corresponds to the outcome, there are several factors that give us a pretty intelligent indication of where the real estate market for housing is headed.
According to Mark Boud, chief economist for Metrostudy, residential housing starts will continue a slow and steady climb between now and 2020 when the number of new single family housing units will reach 1.45 million units. This number will finally be equal to the housing industry's long-term yearly average. He also forecasts the following:
- The national housing market will continue to remain under-supplied (as it is currently) through 2020.
- The market is overloaded with higher-priced housing and an overt shortage of lower-priced "starter" homes.
- Most markets should see a continuing opening for land purchases and developments in the next two years.
- Overall, the price of housing is still overvalued somewhat, although not as much as the years prior to the last housing recession.
For a more detailed breakdown by Mr. Boud, please view his full forecast here:
Recent findings from the Pew Research Center show how demographic forces are driving population changes and reshaping how we live:
~ Fewer Americans are married. Only half of U.S. adults today are married, down from 70% in 1950. The increase in unmarried adults was greatest in those ages 50 and older—75% in the same time span—reflecting the rising divorce rate for the age cohort.
~ More generations are living together. There are nearly 61 million multi-generational households in the U.S. as of 2014, which includes two or more adult generations or grandparents and grandchildren. Growing Asian and Hispanic populations, which are more likely to live in multi-generational households than whites, explain some of the rise.
~ Women might never make up half the workforce. Women represented 46.8% of the U.S. labor force in 2015, but the Bureau of Labor Statistics projects the share of women in the workforce will peak at 47.1% in 2025 before tapering off. The gender pay gap is closing, however, and is even narrower for young adults, with working women ages 25 to 34 making 90% of what their male counterparts made.
~ Immigrants are driving workforce growth. Growth in the U.S. working-age population (ages 25 to 64) will be driven by immigrants and their U.S.-born children through 2035 because of a lack of U.S. born children with U.S. born parents. There would be 18 million fewer working-age adults in 2035 without immigrants.
~ The share of middle-income households is falling. In 2010, 59% of American adults lived in middle-income households—those with disposable incomes that are two-thirds to double the national median disposable income—down from 62% in 1991. The decline of middle-income households in the U.S. was mirrored across Western Europe, but most Western European countries had a larger share of adults in middle-income households that the U.S.
The store will offer the following services:
Beer & Wine, Olive Bar, Fresh Sushi, Juice Bar, Salad Bar, Sandwich Bar
The address of the new store will be:
2500 Eldorado Parkway
Frisco, TX 75033
10-Steps to Burglar-Proof Your Home
- Maintain your property. Keep snow shoveled off of your walkway and driveway, as well as removing holiday decorations and fallen tree branches in a timely manner. This shows would-be burglars that your home is occupied.
2. Know your neighbors. Introduce yourself and speak regularly. This way you know who lives at the house and likewise. If there is an intruder, all parties will know who belongs and who doesn’t.
3. Assess your home’s vulnerability. Walk to the curb and face your house. Ask yourself, “How would I get in if I were locked out?” The first thing you think of, whether it’s the window with a broken lock or the door that won’t shut all the way, is exactly how a thief will get in. Think like a burglar, and then address the issues that come to mind.
4. Respect the power of lighting. Criminals are cowards, and they don’t want to be seen. A well-lit house is a deterrent because thieves don’t want the increased witness potential Easy tools include dusk-to-dawn adapters that go into existing light fixtures and motion detectors. But beware of leaving your exterior lights on at all times, which signifies the occupant is gone for an extended period of time.
5. Use technology to make your home look occupied. Smart home technology makes it easier to make it appear as if someone is home even when they’re not. If you have purchased different brands of devices throughout the years, a device like Wink Hub- (http://www.wink.com/products/) allows them to all communicate with each other and you to control them all on your smart phone. There are also simple light/lamp timing devices available at hardware stores.
6. Lock your doors. No matter where you live, you should always lock your doors and keep your garage door closed. Some facts sellers should know: In 30 percent of burglaries, the criminals access the home through an unlocked door or window; 34 percent of burglars use the front door to get inside; and 22 percent use the back door.
7. Reinforce your locks. A good door lock is nothing without a solid frame. Invest in a solid door jam and strike plate first. Know the difference between a single-cylinder and a double-cylinder deadbolt. Double cylinder deadbolts are recommended because they require a key to get in and out. For safety and emergency escape purposes, you must leave the key in when you are home. But they are against regulations in some places, so check with your local police department’s crime prevention office.
8. Blare the sirens. Burglars are usually in and out in less than five minutes, and they know police can’t respond to an alarm that quickly. Their bigger concern is witnesses to their crime. For that reason, an external siren is invaluable, whether as part of a monitored security system or a DIY alarm. Even if you don’t have an alarm, it’s not a bad idea to invest in fake security signs and post them near doors. Even fake security system yards signs give burglars pause.
9. Consider surveillance cameras. Video doorbells such as Ring (https://ring.com) allow homeowners to view streaming video of what’s and who is outside their door on their smart phone. The device has a motion detector feature, as well. The HD video assures that you can see a clear image and the two-way voice feature allows you to talk to them no matter where you are. Most state and local regulations require warning people that they are being recorded, which can be accomplished by printing simple paper signs and posting them near doors and windows. This can be effective even if you don’t have actually have the cameras installed!
10. Mark your valuables and record details. Use invisible ink pens or engravers to mark identifying information (driver’s license or State ID numbers) on items. Log serial numbers and take photos of your belongings. Check to see if your police department participates in the Operation Identification program. They will have stickers for you to place on doors or windows warning would-be thieves that your items are marked. These steps may prevent them from pawning or selling stolen items and can help you reclaim recovered belongings.
As your local Real Estate specialist, I am always thinking of you and your family’s safety. For more safety tips, drop me an email at Jlyne@kw.com .
Frisco, Texas has been ranked the 2nd fastest growing city in the United States! To find out more about why Frisco is such a rapidly-growing community, click this link:
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I just completed an intense training program called BOLD through Keller Williams. BOLD will enhance my ability to provide my clients with an exceptional buying and/or selling experience. Be sure to ask your Realtor about their continuing real estate education!
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