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New Housing Starts Do Not Guarantee Aftermarket Sales
We have been studying a trend of new home buyers in the US in light of this latest housing boom. And how we should adjust our strategies to deal with it. Last year we saw 5.56 million sales of existing homes and we all know that the number of brand new homes was substantial to say the least. This incredible surge in new housing starts was due primarily to mortgage rates at all-time historical lows. And the incredible move-in deals, for instance loans with less than 1-3% down payments. 20% of our population took advantage of this by re-financing, remodeling, moving or buying a new home. 43 million Americans moved between 1999 and 2000, this trend continued even to today's date we see areas of hyper growth. On both sides of the country and yes, some in the middle too, places like; Dallas, Denver, Kansas City, Oklahoma, Nashville and Phoenix suburb areas all saw strong growth in 2003 and much of this is continuing as expected into 2004. In 1999 thru 2000 33% of renters moved and 9% of homeowners. What does all this mean to service companies? Well it means the discretionary expenditures for home related items and services is about $6,500.00 on average. First time home-buyers spent $2500.00 less on upgrades and improvements. This of course is important to landscaping companies who deal with residential properties and consumers. We noticed it in our group of service companies, which specialize in those sectors: Window Wash Guys; The Deck Wash Guys; The Concrete Wash Guys. But were heard the same thing from pool builders, furniture sales and BBQ sales. Another interesting trend is that new homeowners are 35 percent more likely to buy a one or more new cars, at least that is what the latest surveys are showing for the years from 1999 to the current if they have purchased a new home. We know in the carwash industry that our industry tracks new automobile sales for three years. This is because people with new cars tend to be more at attached to those automobiles (not like Jay-Lo and her latest boyfriends or Super Star Woman Teen idol and singer with her new husband for 23 hours in Vegas) as it is an extension of their personalities, because of this relationship with the automobile those owners are more likely to take a really good care of it while it is still new. As a matter of fact at the Car Wash Guys http://www.CarWashGuys.com we have noticed that detailing inquiries for new cars outrank those for much older cars by a 5 to 1 margin. The same thing is true with new homes. Companies like Lowes and Home Depot are showing incredible gains, Home Depot just announced it was going to build 175 new stores in the next three years spending over $1.6 billion to do it. http://www.carwashguys.com/072302_3.shtml Why is this happening? It is happening because the pie of overall customers has increased by over 25 percent since 1999. This means that 25 percent of Americans who previously did not own a home, and now do. This is a testament to the strength of the middle class as well as the trust in the security of the ongoing endeavors of a great civilization with a strong economy and strong central bank. However, we have also noted a slight trend in the decrease of the total number of dollars being spent by those buying into new homes. We know why this is because, the average consumer is tapped out; they have blocked cars on zero-zero down and bought homes on one to three percent down. There were also 3 million U.S. citizens who had lost their jobs in the same time. Just because a past trend has translated into a sub-trend you your sector does not mean it is always guaranteed to play out that way as there are many other factors involved. It is a lot like predicting the weather; with so many variable sometimes you just cannot know and then there are regional anomalies in some areas which buck the first trend. Think on this. "Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs
MORE RESOURCES: Visualizing China’s Real Estate Market Downturn Visual Capitalist Looking past NAR drama to the heart of Hanna’s success Real Estate News by RealEstateNews.com Nashville man, 22, makes up to $90K/month day trading — now he tells Ramsey Show he’s ready to try real estate Yahoo Finance $1 Million Homes in Finland The New York Times Real estate sales in Peoria, Tazewell and Woodford counties for July 5, 2025 Peoria Journal Star Restaurant Real Estate: July 2025 Portland Food Map Shelter Island Reporter Real estate Transfers: July 6, 2025 Shelter Island Reporter Detroit sues blockchain real estate firm that owns rentals with hundreds of violations Detroit Free Press 5 real estate law trends to watch in Arizona AZ Big Media Real Estate Investing: 5 Ways to Get Started NerdWallet REAL ESTATE | Remember when | Hidden treasures fell from the rafters at the West Bend Train Depot Washington County Insider A Potential Mamdani Mayorship Strikes Fear in the Real Estate Industry The New York Times 'Married To Real Estate' Canceled After Four Seasons On HGTV, Say Hosts Egypt Sherrod & Mike Jackson Deadline Senate Passes Tax Bill With Major Wins for Real Estate National Association of REALTORS® Real Estate Property Transfers Spring Hill for June 9, 2025 Williamson Source NAR Secures Real Estate Wins in Tax Reform Bill | Florida Realtors Today’s Mortgage Rates July 6, 2025: Persistent Stability in 30-Year FRM and 15-Year FRM Norada Real Estate Investments The most expensive homes sold in Jefferson County (June 9-20) The Business Journals Man accused of posing as real estate agent in South Miami given $1.2 million bond NBC 6 South Florida N.J. just raised the ‘mansion tax’ on high-value property sales. Here’s what to know. Inquirer.com Active real estate listings rise in Washington NonStop Local KHQ The Real Estate Market Needs Geo-Political Stability to Thrive—Especially in New York Rockland County Business Journal ‘Our agents are our brand’: Why Estate Properties chose independence Real Estate News by RealEstateNews.com New teams at Real, C21; veteran agent joins Engel & Völkers Real Estate News by RealEstateNews.com Shlichus Isn’t Real Estate Anash.org Alexandria Real Estate Equities, Inc. (NYSE:ARE) Shares Bought by IFM Investors Pty Ltd - MarketBeat Indies flex their muscle as the big brokerages get bigger Real Estate News by RealEstateNews.com Aspen Real Estate Snapshot, June 23, 2025 Aspen Daily News Rock Island and Henry County real estate transactions for June 29, 2025 The Quad-City Times The N.Y.C. Neighborhoods Where Home Prices Have Soared The New York Times 'Keep it moving': HGTV cancels TV show hosted by Georgia couple after 4 seasons Savannah Morning News Million Dollar Monday: Home with heated Calacatta gold floors hits market The Business Journals Fully leased South Jersey shopping center sells for $8.5 million The Business Journals Active real estate listings rise in Washington Nonstop Local News Historic 106-year-old Clermont County retreat hits market for $1.25M The Business Journals Ethan Conrad buys Class A Gold River office building out of foreclosure The Business Journals Was operator of San Antonio apartment complexes running a Ponzi scheme? San Antonio Express-News Erie County real estate transactions Buffalo News $7.4M mansion with waterfront views on 3 sides is Houston area's priciest sale of the week (PHOTOS) The Business Journals Detroit sues cryptocurrency-based real estate firm to correct hundreds of property violations The Detroit News Celebrity Agent Sues National Association of Realtors Over House Listings The New York Times Canadian Buyers Are Dropping Out of the U.S. Housing Market The New York Times 7 Morning Digest: Detroit sues crypto real estate company, community ice cream truck & more WXYZ Channel 7 Triangle homes sitting on the market longer, why a real estate agent says it’s about perspective WRAL.com |
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