Home Builders See Bottom of Housing Slump
The year-long slump in the housing market may be near a bottom, say home builders - though it could take a while before prices rebound.
Toll Brothers (Charts) reported a sharp drop in fiscal fourth quarter earnings early Tuesday and forecast a big drop in profits for the coming year. But despite that bad news, chairman and CEO Robert Toll said that the market for new homes may finally be leveling off after more than a year's worth of declines.
"Fifteen months into the current slowdown, we may be seeing a floor in some markets where deposits and traffic, although erratic from week to week, seem to be dancing on the bottom or slightly above," said Toll in a statement accompanying the earnings report. "The metro D.C. suburbs of northern Virginia, which was the first market in which we saw activity slow, seems to have stabilized, although at levels much lower than those we have enjoyed over the past few years."
Read the complete story here…
House Remodeling for Seniors
More and more families across the country find themselves at a crossroads: They wish to remain in their homes as they age, but they recognize that their kitchens, bathrooms, hallways and bedrooms need to be safer and easier to navigate.
That need is giving rise to an army of experts who are eager to help people age in place. Many are home builders and remodelers, with titles like certified aging-in-place specialist. Others are interior designers, architects and occupational therapists. Even appliance and gadget makers, health-care providers and lenders are jumping in.
But who is the best person to help you with the task of continuing to live in your home — and do you really need a specialist?
The one issue that most experts agree on is that the sooner you plan for changes in your home, the better.
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Housing Market to Stabilize in 2007?
After months of sharp declines, housing starts exhibited faint signs of revival last month. According to the U.S. Census Bureau's report on Dec. 19, total starts edged up 6.7% in November to a seasonally adjusted annual rate of 1.59 million units.
Housing starts rose for the last time in September; May and January also saw small increases. The November news — though far from momentous — offsets the grim mood set in October, when starts on new homes plummeted 14.6% to 1.49 million, the lowest level in more than six years.
Why the sudden adjustment? "The economic indicators — interest rates, energy prices, income — are all pretty good, and the consumer fear of a long price decline is subsiding," says Gopal Ahluwalia, head of research economics for the National Association of Home Builders.
Read more about predictions concerning housing market for next year…
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