NBN Online for the week of June 13, 2005

Housing Exodus to Far-Flung Areas to Continue

Home owners in the years ahead are far more likely to find themselves stuck in traffic on their long drives to and from work than mired in moribund housing markets where a price bubble has popped, according to the 2005 State of the Nation’s Housing Report released today by the Joint Center for Housing Studies of Harvard University.

Housing demand is “on track” to support the production of 19-20 million homes over the next 10 years, the report says, and “the vast majority of these homes will be built in lower-density areas at the metropolitan fringe where cheaper land is in more ample supply.”

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Lumber Prices Provided by Random Lengths

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Coastal Strike Likely This Hurricane Season

This year’s hurricane season in the Atlantic Ocean started on June 1, and if forecasters are correct, home owners in Florida and other storm-prone states will likely once again find themselves in the path of devastation.

Based on current and projected climate data, meteorologist Bill Gray and his research team from Colorado State University say that there is a 77% chance of an intense hurricane hitting somewhere along the U.S. coastline this year, compared with a long-term average of 52%. To read the report, click here.