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12/23/2022 – MetroIntelligence Economic Update by P. DUFFY

MetroIntelligence Economic Update by P. DUFFY 2023 Housing Market Predictions: Gradual Shift Toward Buyers With over 85% of homeowners paying mortgage rates below 5% (and two-thirds with rates under 4%), home sales will remain muted as long as rates are elevated. More people will delay moving due to this “‘lock-in effect”’ until rates retreat below 5% or prices adjust accordingly. Depending on the area, renters will also be able to claw back more market power in 2023 as historically high levels of new apartments now under construction are completed. https://realestate.usnews.com/real-estate/housing-market-index/articles/housing-market-predictions…

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Cloud County Awarded Funds To Replace Historic Bridge

Cloud County Awarded Funds To Replace Historic Bridge Cloud County was awarded up to $4,270,000 for the replacement of the bridge on 190th Road over the Republican River, known to many as the UP Bridge. Read More Blade-Empire https://www.bladeempire.com/news/cloud-county-awarded-funds-replace-historic-bridge

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Milwaukie Becomes Second-Largest Oregon City to Ban Natural Gas in New Construction

Milwaukie Becomes Second-Largest Oregon City to Ban Natural Gas in New Construction Two resolutions were approved earlier this month: one banning natural gas hookups in new construction and the other calling for natural gas to be removed from existing city-owned buildings through retrofit. Read More KEZI 9 News https://www.kezi.com/news/milwaukie-becomes-second-largest-oregon-city-to-ban-natural-gas-in-new-construction/article_f2c281be-7e56-11ed-ac8e-d711f7abddef.html

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12/20/2022 – MetroIntelligence Economic Update by P. DUFFY

MetroIntelligence Economic Update by P. DUFFY   December builder confidence slips another 2 points to 31 Builder confidence in the market for newly built single-family homes posted its 12th straight monthly decline in December, dropping two points to 31. This is the lowest confidence reading since mid-2012, with the exception of the onset of the pandemic in the spring of 2020. The HMI index gauging current sales conditions fell three points to 36 and traffic of prospective buyers held steady at 20. The component charting sales expectations in the next…

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San Antonio Approves First Batch of Affordable Housing Bond Funding

San Antonio Approves First Batch of Affordable Housing Bond Funding The $44 million, which includes some money from federal housing programs, will fund 14 projects across the city that will build or rehabilitate an estimated 2,532 housing units over the next five years. Read More San Antonio Report https://sanantonioreport.org/council-approves-44-million-transformational-housing-bond-funding/

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A Builder’s Path Towards Offsite Framing

Relationships with structural framing suppliers determine the deliverance of each project By Jess Lohse Builders have faced an unprecedented number of challenges over the last several months. In a short time, they have transitioned from supply chain issues holding back production due to overwhelming demand, to wondering how many homes they will be able to sell thanks to climbing interest rates. Recent memories of the inability to source framing materials understandably contributes to fears of how to efficiently deliver homes at affordable price points. Obviously, relationships remain critical through this…

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Building for Resiliency

Building for Resiliency Building resilience into a project can provide tangible benefits and protection, which is a fundamental cost to actually realize the business case for resilience… Read More Urban Land Institute https://urbanland.uli.org/public/hurricane-ian-showed-the-importance-of-building-for-resiliency-in-south-florida/

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