From the WSJ’s Real Time Economics blog:
(bolding by EleBlog)
“We think it’s going to be a slow, at-the-margin adjustment that’s going to take place over time,” Mr. Miller said on Lennar’s call to discuss its results for its fiscal second quarter ended May 31. “On the negative side, it means it’s going to be really difficult to really liberate the first-time buyer and get them back into the market.”
Meanwhile, a no-less-significant shift might occur. In response to a question from an analyst, Mr. Miller said on the call that Lennar is “considering” expanding into building homes intended for rent.
That will depend, he said, on how long first-time buyers are stymied by stringent mortgage-qualification standards. If those would-be buyers are forced to turn to renting, Lennar is studying whether to start building single-family homes for them to rent in addition to the apartments it already constructs.
If you’re not aware, Lennar is one of the larger home builders in the U.S.
The upshot for electrical folks:
1. It’s been slow out there since 2009.
2. It’s not going to get any better any time soon — not just in the new resi construction market, but in the economy as a whole.
. . . at least, that’s the opinion of one guy, who lives where the rubber meets the road.
Source: http://electricalcontractor.com/?p=14691
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