Qualified Remodeler Magazine

JUN 2018

Qualified Remodeler helps independent remodeling firms to survive, become more professional and more profitable by providing must-have business information, namely best business practices, new product information and timely design ideas.

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Page 11 of 59

The national homeownership rate of 64.2 percent shows signs of sustained growth after bottoming out to a cycle low of 62.9 percent in the second quarter 2016. Yet, this number is still down from the peak of 69.2 percent in 2004, and remains below the 25-year average rate of 66.3 percent. "We must continue to address the obstacles that remain for many poten- tial home buyers, including factors that increase the cost to build new homes. Skyrocketing costs for lumber is the No. 1 challenge for builders right now," said NAHB Chairman Randy Noel. Since January 2017, rising lumber costs have increased the price of an average single-family home by nearly $9,000 and the market value of an average new multifamily housing unit by over $3,000. While there are many reasons for increas- ing lumber costs, the primary factor is the 21 percent effective tariff rate placed on Canadian softwood lumber. | INDUSTRY DATA Fed: Homeownership is primary wealth driver The latest edition of the Survey of Consumer Finances, published by the Board of Governors of the Federal Reserve System, reports that the primary residence accounts for about one-quarter of all assets held by households in 2016, ahead of other financial assets, business interests and retirement accounts. Building equity and accruing wealth when the value of your home appre- ciates are among the longer-term financial benefits of homeownership. Americans had a record-high $14.4 trillion of equity in their homes in the fourth quarter of 2017. This report was promoted as a part of National Homeownership Month by the NAHB, particularly the recent growth in the homeownership rate. June 21-23 AIA Conference on Architecture 2018, New York City The American Institute of Architects conferenceonarchitecture.com June 27-28 PCBC 2018, San Francisco California Building Industry Association pcbc.com July 24-28 2018 Board of Directors Midyear Meeting, Portland, Ore. NAHB nahb.org/members/national-leadership/ board-of-directors/2018-midyear-board- meeting Sept. 13-15 CCN 2018 Fall Conference, Providence, R.I. Certified Contractor's Network tinyurl.com/ccn-fall-conference Oct. 3-4 Building Industry Show, Temecula, Calif. Building Industry Association of Southern California biasc.org Oct. 9-11 Remodeling Show & Deck Expo, Baltimore Informa Exhibitions remodelingdeck.com Oct. 16-18 EEBA's High Performance Home Summit 2018, San Diego The Energy and Environmental Building Alliance summit.eeba.org Nov. 7-9 2018 Design-Build Conference & Expo, New Orleans Design-Build Institute of America dbia.org/Conferences/expo/Pages/ Future-Events.aspx Nov. 14-16 Greenbuild International Conference & Expo, Chicago U.S. Green Building Council greenbuildexpo.com UPCOMING EVENTS 12 June 2018 QR QualifiedRemodeler.com IN BRIEF 7 Year In-Home Warranty - The Best in the Industry! Made in America since 1961 800.851.4192 www.imperialhoods.com We are Kitchen Ventilation Specialists. Ventilation is all we do. For more info circle 54

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