Week of October 20, 2008
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Aging-in-Place Market a Bright Spot for Housing

Aging-in-place renovation work is expected to provide one of the bright spots for residential construction as the recession-battered industry eventually begins gaining ground, according to panelists at last month’s Remodeling Show in Baltimore. They also pointed out that communication with elderly home owners will be key to success in this segment of the marketplace, and that is why builders should consider teaming up with occupational therapists.

Members of the post-World War II baby boom are fast approaching traditional retirement years with the advantages of a longer life, more wealth and better education than previous generations, said Michael O’Neal, an urban sociologist with AARP, and surveys by his organization suggest that the great majority of this population will be looking for remodeling jobs that enable them to continue living in their existing homes. ...

Framing Lumber Composite $ 232 $ 8
OSB Composite $ 198 $ 1
Southern Pine Plywood Composite $ 437 $ 10
With permission from: www.randomlengths.com 
 

IRC 2009 Code Brings Changes in How Homes Will Be Built

Decisions voted on at the International Code Council (IRC) Final Action Hearings in mid-September will result in a number of changes in how homes are built in communities where the model 2009 International  Residential Code is adopted.

The most controversial change is the new mandate for fire sprinkler systems in one- and two-family homes. (For an earlier story in Nation’s Building News, click here.) The language mandating these systems was previously located in the appendix of the code as appropriate language for jurisdictions that wanted to adopt a requirement for sprinklers. ...

Interest Rates  
  30-Yr. Fixed: 6.46% 15-Yr. Fixed: 6.14% 5 Yr. ARM: 6.14%
  1 Yr. ARM: 5.16% Libor (3 months): 4.06% Prime: 4.50%
Housing Starts*  (September 2008)
  Total: 817,000 Single: 544,000 Multi: 273,000
Home Sales*  (August 2008)
  New: 460,000 Existing: 4.91 million  
Median Home Prices  (August 2008)
  New: $221,900 Existing: $203,100  
* Seasonally Adjusted Annual Rate

   
 
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