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Builders, buyers optimistic about housing market
Michael J. Berens Construction & Building MaterialsRenewed activity in home sales along with low interest rates and a more positive forecast for the economy in the year ahead have boosted builder and buyer confidence in the housing market. While price increases and a shortage of inventory have hamstrung purchases of existing homes, sales of new homes have been increasing. That trend is likely to continue into 2020 as builders continue to respond to pressures to build more affordable homes.
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A new, blue year
Tory Barringer Interior Design, Furnishings & FixturesIt's official: 2020 will be the year of blue — and no, that's not a political forecast. For more than 20 years, the Pantone Color Institute (PCI) has been the trendsetter for the hues to watch for in the coming year. Its selection for 2020 is Classic Blue (PANTONE 19-4052), which PCI Executive Director Leatrice Eiseman described in a release as a "boundless blue evocative of the vast and infinite evening sky." Pantone isn't the only one calling for a blue year.
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What lies ahead for remodelers?
Michael J. Berens Construction & Building MaterialsAs remodelers prepare to say goodbye to the century's second decade, they may be feeling a bit ambivalent about their future prospects. All in all, the last half of the present decade has been pretty good for remodelers, with annual growth figures hovering around 5 to 7% or better. Recent indicators suggest that trend is winding down. The good news is demand for remodeling services should remain solid, but revenue growth in the next couple of years will likely be more modest.
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Master planning: A trellis to grow a city on
Lucy Wallwork Construction & Building MaterialsWe have all likely come across master plans, the "placemaker's" new tool of choice. They mostly take the form of differently colored polygons within a site outline to delineate what uses will be allowed where and how an area of new development might take shape. But until recently, master plans have been quite unfashionable. In an age of speculative anything-goes urbanism, development has resisted attempts to grow itself along a "trellis" drawn up by the planners. Here we look at what master planning means as a process and what challenges it faces for the future.
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Luxury homebuyers are shifting locales
Michael J. Berens Interior Design, Furnishings & FixturesThe market for luxury homes regained its footing in the third quarter — the first positive quarter of growth this year. Sales of second and vacation homes also are rising. Unexpectedly, activity was greatest in so-called secondary markets, notably areas that are experiencing migrations of more affluent homeowners and real estate investors. These trends should help to widen the sphere of opportunities for interior designers seeking to acquire more high-end clients.
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Housing inventories drop as sales heat up
Michael J. Berens Construction & Building MaterialsThe seesaw ride that is the U.S. housing market appears to have no end in sight. After dipping in September, home sales rebounded in October. At the same time, however, inventory levels fell to their lowest point in the year, causing prices to rise by their highest percentage increase in the year. With mortgage rates fluctuating and the winter months just around the corner, sales are likely to stagger in the final months of the year.
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Strategies for surviving the next recession
Lloyd Princeton Business Management, Services & Risk ManagementWill we or won't we? The verdict is still out on whether the U.S. economy is headed into recession sometime next year. More worrisome at the moment is the number of other leading economies that are teetering on the brink of recession, such as Germany, Italy and, of late, Hong Kong. Growth is slowing in China and other BRIC countries. And who knows what impact Brexit will have on the European Union economies. Directly or indirectly, any of these eventualities could impede our industry. While there is no cause for alarm at the moment, it’s always wise to be prepared for any eventuality.
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In hotel design, business skills can give you an edge
Michael J. Berens Interior Design, Furnishings & FixturesHoteling today is all about creating memorable guest experiences. In recent years, hotel operators have turned to designers to create awe-inspiring, welcoming and soothing interiors to help distinguish their properties from those of their competitors. At the end of the day, though, hotels are businesses, and designers who can help cut or control costs and deliver an Instagrammable interior are likely to find favor with clients.
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Award-winning Austin, Texas, dental practice sets a standard for innovation
Tammy Hinojos Oral & Dental HealthcareMassage chairs and a technology bar? It sounds like a sleek and modern hotel lounge, but it’s not. It's Toothbar, a new dental practice in a trendy area of downtown Austin, Texas, that recently won first place in the "new build" category in the inaugural Design Innovation Awards by the American Dental Association. The practice, which was built from the ground up by Dr. Lauren Jacobsen and Dr. Kimberley Barclay, was designed to appeal to young, professional Austinites.
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Remodelers lower expectations but anticipate growth
Michael J. Berens Construction & Building MaterialsRemodeling activity in the third quarter eased slightly. The National Association of Home Builders (NAHB) stated its Remodeling Market Index (RMI) posted a reading of 55 (indicating modest growth) for the third quarter, the same reading as for the second quarter. Remodelers reported slight declines in client traffic and in demand for both major and minor additions or alterations. Nonetheless, remodelers remain optimistic that business will rebound in the fourth quarter and they will finish the year on a positive note. Less certain is what will happen next year.
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