Elf on the shelf ideas

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With the holidays near, many of us are seeing elves on shelves. We’ve dedicated a Pinterest board to our pal, Morty, and his holiday escapades –> [LINK to Why Tile Elf on a Shelf Ideas]

#whytile #elfontheshelf #holiday #tile #elf #tileelf

 

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Large Format Tiles

11.30

“The large format tiles that resemble stone weren’t available five years ago,” Stuhmer says. “Luxury buyers will embrace multifamily housing when done right.”

These “stone, stucco, and large-format tile buildings were designed to be ultra-contemporary with huge glass expanses and a white, cream, and blue palette inspired by the Greek island of Santorini…”

#whytile #luxury #multifamily #housing

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In the news: Builder Confidence Drops as Housing Affordability Issues Rise

November 19, 2018

Growing affordability concerns resulted in builder confidence in the market for newly-built single-family homes falling eight points to 60 in November on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Despite the sharp drop, builder sentiment still remains in positive territory.

“Builders report that they continue to see signs of consumer demand for new homes but that customers are taking a pause due to concerns over rising interest rates and home prices,” said NAHB Chairman Randy Noel, a custom home builder from LaPlace, La.

“For the past several years, shortages of labor and lots along with rising regulatory costs have led to a slow recovery in single-family construction,” said NAHB Chief Economist Robert Dietz. “While home price growth accommodated increasing construction costs during this period, rising mortgage interest rates in recent months coupled with the cumulative run-up in pricing has caused housing demand to stall.”

With the prospect of future interest rate hikes in store, Dietz said that builders have adopted a more cautious approach to market conditions and urged policymakers to take note.

“Recent policy statements on economic conditions have lacked commentary on housing, even as housing affordability has hit a 10-year low,” said Dietz. “Given that housing leads the economy, policymakers need to focus more on residential market conditions.”

Derived from a monthly survey that NAHB has been conducting for 30 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.

All of the major HMI indices posted declines. The index measuring current sales conditions fell seven points to 67, the component gauging expectations in the next six months dropped 10 points to 65 and the metric charting buyer traffic registered an eight-point drop to 45.

Looking at the three-month moving averages for regional HMI scores, the Northeast rose two points to 58. The Midwest edged one point lower to 57, the South declined two points to 68 and the West dropped three points to 71.

Editor’s Note: The NAHB/Wells Fargo Housing Market Index is strictly the product of NAHB Economics, and is not seen or influenced by any outside party prior to being released to the public. HMI tables can be found at nahb.org/hmi. More information on housing statistics is also available at housingeconomics.com.

 

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In the News: International Builders’ Show Single-Family Starts Post Slight Decline as Builders Grapple with Affordability Issues

New construction in progress on a home

Rising housing affordability concerns continue to weigh on single-family production even as total housing starts edged higher in October.

According to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department, total housing starts rose 1.5 percent in October to a seasonally adjusted annual rate of 1.23 million units from an upwardly revised September reading. Year-to-date, new housing starts are 5.6 percent above their level over the same period last year.

The October reading of 1.23 million is the number of housing units builders would start if they maintained this pace for the next 12 months. Within this overall number, single-family starts edged down 1.8 percent to 865,000 units. Meanwhile, multifamily starts—which include apartment buildings and condos—rose 10.3 percent to 363,000.

“This month’s decrease in single-family starts isn’t a surprise given the drop in our builder confidence index,” said NAHB Chairman Randy Noel, a custom home builder from LaPlace, La. “Builders are showing caution as mounting housing affordability concerns are forcing some consumers to delay making a home purchase.”

“Single-family starts were strong at the beginning of the year, but weakened this summer and have remained soft,” said NAHB Chief Economist Robert Dietz. “Despite this softness, 2018 construction volume is set to be the best since the downturn. A growing economy and positive demographic tailwinds are supporting housing demand as interest rates rise. However, policymakers should take note of the November decline in builder confidence as a sign that housing affordability conditions will weigh on the housing market going forward.”

Overall permits—which are an indicator of future housing production—registered a 0.6 percent drop in October to 1.26 million. Single-family permits fell 0.6 percent to an 849,000 unit pace while multifamily permits dropped 0.5 percent to an annualized rate of 414,000.

Looking at the regional numbers on a year-to-date basis, combined single-family and multifamily housing starts rose 13.5 percent in the West and 5.5 percent in the South. Starts fell 0.6 percent in the Midwest and 4.8 percent in the Northeast.

Also on a year-to-date basis, permit issuance rose 7.6 percent in the South and 3.9 percent in the West. Permits were down 2.4 percent in the Midwest and 5 percent in the Northeast.

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