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Housing recovery slips away, again
Michael J. Berens Construction & Building MaterialsGiven the ups and downs of recent years, any prognosis about the state of the U.S. housing market is risky. Still, emerging data from the month of February suggests that the industry may have experienced the beginning of an upward trend going into spring, traditionally the busiest homebuying season of the year. Now, however, the oft-predicted recovery yet again will have to wait a while longer — perhaps much longer — as the country wrestles with the challenges created by the COVID-19 pandemic.
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Interior design is facing a talent shortage, and it’s going to get…
Lloyd Princeton Interior Design, Furnishings & FixturesAs anyone trying to hire in today’s job market knows, it’s getting harder and harder to find qualified candidates. From what we’re seeing in my firm, there currently is a talent shortage throughout the industry, in all positions. More troubling, it appears fewer younger people are entering the profession. That could create big problems for firms in the coming years. A number of factors are contributing to the current shortage.
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Downsizing comes to senior living
Michael J. Berens Interior Design, Furnishings & FixturesMore is more has been the trend in senior living for many years — more variety, more choice, more activities, more open spaces, more gathering places. That trend is poised to reverse itself in the coming decade, believe some industry experts. Developments in technology and construction will make smaller spaces more attractive to aging baby boomers looking for a place to spend their later years.
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New remodeling forecasts revised upward
Michael J. Berens Construction & Building MaterialsDemand for remodeling services maintained momentum in the fourth quarter of 2019, with remodelers reporting average revenue gains a few notches above industry projections. That momentum is expected to carry over into the first half of this year, fueled by the recent uptick in activity in the housing market. Although industry experts still foresee mainly moderate growth for 2020, they have revised their long-range forecasts slightly higher than those of the previous quarter.
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What are the features homeowners want the most?
Terri Williams Interior Design, Furnishings & FixturesAmericans are a diverse group, and as a general rule, that's a good thing. But a level of uniformity, especially as it relates to homes and neighborhoods, can also be good. For example, despite the snickers and snide remarks surrounding "cookie-cutter homes," these types of properties sell very well. And millions of people choose to live in a community that has a homeowners' association to ensure that no one paints their house purple. A survey by Porch and Homes.com has identified the top features that people want when they're looking for a home — and how much they’re willing to bust the budget to pay for it.
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Designers upbeat as remodeling boom continues
Michael J. Berens Interior Design, Furnishings & FixturesWith market conditions trending in their favor, residential interior designers are looking forward to another profitable year. Reluctant to give up their current homes, homeowners planning to stay in place for the long haul are choosing to spend instead on improvements and updates. Although industry forecasts predict remodeling and renovation activity will slow during the second half of the year, at present surveys show a sizable majority of homeowners have plans to undertake home improvement projects in the coming months.
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New home sales soar while inventories plummet
Michael J. Berens Construction & Building MaterialsIf you can’t buy 'em, build 'em. With inventories of existing homes for sale at their lowest levels in years, would-be homebuyers are turning to the new home market in droves. New housing starts and permit requests have increased by double digits compared to a year ago, and sales of new homes in January were up substantially following three months of decline. Whether this is the beginning of trend or just a temporary bump remains to be seen.
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The brain on nature: The why behind biophilic design
Michael J. Berens Interior Design, Furnishings & FixturesNatural environments and the presence of nature in built environments have been found to produce beneficial effects on occupants. Those findings have given rise to the growing use of biophilic design strategies, which seek to improve occupant health and well-being through the incorporation of nature views and natural elements into interior environments. Now, scientists are learning more about how and why we respond to natural stimuli in certain ways — research that can help designers to refine their application of biophilia to have greater impact.
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Minimalism: A shifting of our priorities or an empty, fashionable trend?
Victoria Fann Interior Design, Furnishings & FixturesHave you caught the decluttering bug yet? From Marie Kondo to websites based on minimalism, from tiny homes to van life, from the rise of the sharing economy to co-working, it appears that this trend is here to stay. But why is the desire to scale down and purge suddenly so inviting? One possibility is that it’s a reactive pendulum swing away from decades of unbridled materialism.
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Firms are hiring again. Here’s how to compete.
Lloyd Princeton Interior Design, Furnishings & FixturesWith the news that the global and U.S. economies were showing signs of slowing down, A&D firms as a precaution dialed back their hiring plans in the latter part of 2019. In recent weeks, with reports of sustained solid job growth, resiliency in the stock market, and high levels of consumer spending, firms are feeling more optimistic about their prospects for 2020. Once again, hiring plans are back on the table. Recently, in my firm, we've experienced a surge in calls from firms wanting to initiate recruitment searches.
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