‘Explosive’ Growth Period Has Created Affordable Housing Crisis in Florida County
A new study finds that 22 of the municipalities in Broward County, Fla. have housing affordability gaps of more than $100,000 between the median price of a single-family home and the family median income needed to purchase a home. The county’s homes in only two years have jumped 65% in price, the report says, compared to a 6% gain in per capita income over the last three years. An annual income of $90,720 is needed to afford a $361,100 median-priced home in the county, but 77% of the county’s households earn less than $77,000 and the median income of a double-income household is only $51,570. Projected population and job growth figures for the county show that between 2004 and 2012, about 27,000 additional work force housing units will be needed for people earning between 80% and 150% of the median income and 51,000 affordable rental housing units will be needed for households earning less than 80%. The study noted that 50% of the local labor force is employed in service sectors of the economy that pay $25,000 a year or less. (www.rismedia.com)
Rismedia (3/2/06); Beth Bresnahan
[Return to top]
Job Growth Key Indicator for Condo Sales
With the resale market cooling and demand for condominiums seeming to be down in the Washington, D.C. area, some people have begun to wonder if the number of new condos under construction is more than the housing market can handle. “I compare today’s condo situation to what happened with office space in the late 1980s and early 1990s,” says Bernie Markstein, NAHB’s director of forecasting. “Back then, everyone had seen a shortage in office space, so they began building a ton of projects. Many of them were 60% pre-leased, and the developers expected to lease the other 40% after the building was completed. Well, what happened was that a whole bunch of buildings were completed at the same time, all of them with 40% vacancies, and there was just too much supply,” he says. However, the area’s job market remains strong, “so we may only see a flattening of the market. I don’t expect a downturn.” Stephen Fuller from George Mason University in Virginia has said that he expects 65,000 jobs to be created in the metro area each year over the next three years. A total of 8,631 new condos were sold in the Washington area last year, double the 4,039 sold in 2004. There were 25,277 new home sales in the area in 2005, an 11% increase from 2004.
(www.washingtontimes.com)
Washington Times (3/3/06); Chris Sicks
[Return to top]
The Hottest Remodeling Trends in 2011
Stone kitchen countertops are still popular, but granite and other natural stones can be permanently stained by cooking oils and etched by common cleaners, and more home owners are becoming wary of the drawbacks, according to Vince Butler, chairman of the NAHB Remodelors™ Council. Butler said he is installing more synthetic or engineered stone countertops and seeing renewed interest in “solid surfaces” like Corian. “It may not have the eye appeal, but I think as people live with it, it may be easier to take care of,” he said. Remodelers are also shelling out, big time, for custom bathroom tile, he said. “It’s the place where people are really expressing themselves. We’ve seen some master bathrooms where they spend $20,000 just on tile, and these are not extremely expensive homes. They are middle-class homes.” (www.realestate.msn.com)
MSN Real Estate (2/26/06); Liz Pulliam Weston
[Return to top]
Rid Your Home of ‘Popcorn’ Ceilings
The bumpy acoustic popcorn ceilings that were the latest thing in the 1950s are despised by home buyers today because they give the house a dated appearance and are considered dust traps and hard to maintain. Before removing one of these acoustic ceilings, the first thing a home owner needs to do is to determine whether it contains asbestos, which was used as a binder in many construction materials before it was banned in 1978. Chances are good that the ceiling does contain asbestos if it was built before 1979, but it’s not uncommon to find asbestos in acoustic ceilings installed in the 1980s because existing inventories were exempt from the ban. If there is an asbestos problem, the most economical solution is a new layer of non-asbestos acoustic sprayed over the top of the ceiling. However, while this will encapsulate the asbestos, it won’t update the look of the home. The other solution is to hire a certified asbestos-abatement company to remove the finish and then have the wallboard retextured and painted. Professionally removing the asbestos will cost about $3,000-$5,000 for a 15-by-20 room. It is illegal to paint an asbestos-containing acoustic ceiling, according to the Environmental Protection Agency. (www.realestatemsn.com)
MSN Real Estate (2/25/06); Ann Archer
[Return to top]
Low Income and Hi Tech
Built to introduce the community to the green philosophy, the 2006 New American Home uses as many Earth-friendly materials as possible and is “as green as we can possibly make it,” according to its builder, Alex Hannigan. And that was one reason that architects from WCI Communities Inc, which has developed a number of green communities, were chosen to design the home. Green features of the Energy Star-rated show home include abundant natural light and ventilation, thickened insulated exterior walls to mediate temperature differentials and welcoming outdoor living spaces to foster a close relationship with the natural world. Other sustainable construction features included: a universally accessible design to minimize future renovations, insulated concrete form walls, sprayed expanding foam roof insulation, sustainable interior doors and trim, high-efficiency doors and windows, a tankless instant hot water heater, water-efficient landscape species and design, rainwater harvesting from a roof gutter system and garden mulch made from recycled construction materials. (www.fairfaxnz.co.nz/index.html)
Christchurch Press (3/1/06)
[Return to top]
Man Coughs Up Nail 35 Years After Accident
While brushing his teeth and after experiencing tickling in his throat, an 84-year-old man in Placerville, Calif. coughed up an inch-long nail that had entered his neck in 1970 while he was mowing his grass at his home in Minnesota. At the time he was struck, he felt a slight pain and saw a small trickle of blood. “It was like a bee sting,” he said. “But I didn’t think much of it.” The next day, when he began to experience discomfort and a 105-degree temperature, he was rushed by his family to the hospital, where doctors discovered that a nail had dropped down inside his body cavity and was nestled inside his ribcage. The object was forgotten for years because it would have required major surgery to remove it and doctors expected the nail to seal itself off in his body. A few weeks ago during a routine doctor’s office visit, an x-ray showed that the nail was in his lung, and plans were made to remove it. (www.news10.net)
News 10 KXTV, ABC, Sacramento, Stockton, Modesto (2/15/06); Jason Kobely
[Return to top]
|
