Daily Archives: June 24, 2015

Housing’s Share of GDP Expanded at the Start of 2015 | Waccabuc Real Estate

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With the release of the final estimates of first quarter 2015 GDP growth (a decline of -0.2%), housing’s share of gross domestic product (GDP) grew to 15.45%, with home building and remodeling yielding 3.14 percentage points of that total.

housing share of GDP

Housing-related activities contribute to GDP in two basic ways.

The first is through residential fixed investment (RFI). RFI is effectively the measure of the home building and remodeling contribution to GDP. It includes construction of new single-family and multifamily structures, residential remodeling, production of manufactured homes and brokers’ fees. For the first quarter, RFI was 3.14% of the economy.

The RFI component reached a $512 billion annualized pace during the start of the year. This is the  highest quarterly rate for RFI since the middle of 2008.

The growth for RFI at the start of 2015 added 0.21 points to the headline GDP growth rate (GDP would have declined 0.4% absent the RFI component).

The second impact of housing on GDP is the measure of housing services, which includes gross rents (including utilities) paid by renters, and owners’ imputed rent (an estimate of how much it would cost to rent owner-occupied units) and utility payments. The inclusion of owners’ imputed rent is necessary from a national income accounting approach because without this measure increases in homeownership would result in declines for GDP. For the first quarter, housing services was 12.3% of the economy or $2 trillion on an annualized basis.

Taken together, housing’s share of GDP was 15.45% for the start of the year.

Historically, RFI has averaged roughly 5% of GDP while housing services have averaged between 12% and 13%, for a combined 17% to 18% of GDP. These shares tend to vary over the business cycle.

 

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http://eyeonhousing.org/2015/06/housings-share-of-gdp-expanded-at-the-start-of-2015/

Realtor.com, Airbnb partner to let homebuyers test-drive the neighborhood | South Salem Homes

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Realtor.com and Airbnb have teamed up to allow potential homebuyers to “live like a local” by experiencing a specific neighborhood before purchasing.

Visitors to realtor.com will be able to book accommodations nationwide on Airbnb ranging from single-family homes to condos, lofts and other properties located near their desired neighborhood.

“This collaboration with Airbnb reinforces our commitment to giving consumers unparalleled insight to make informed real estate decisions,” said Ryan O’Hara, chief executive officer of Move. “Our relationship with Airbnb—a company that helps millions of people feel at home in communities around the world—allows us to reduce some of the unknown factors associated with relocating to a new community. It is what we mean when we say realtor.com puts the ‘real’ in real estate.”

“We’re pleased to team up with realtor.com to encourage and support the home buying process,” said Chip Conley, head of global hospitality & strategy at Airbnb. “As we offer a variety of unique accommodations in neighborhoods across the country, we’ll be able to allow potential homeowners the special opportunity to experience those neighborhoods as if they already live there – before making the decision to buy.”

Consumers who visit realtor.com to look at homes in new neighborhoods can select the option to “Airbnb before buying.”

 

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http://www.housingwire.com/articles/34291-realtorcom-airbnb-partner-to-let-homebuyers-test-drive-the-neighborhood

Boost Your All-White Color Scheme | Katonah Real Estate

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Love the look of fresh white but don’t want to feel like you live in a cold, minimalist compound? Here’s how to boost white to get a livable, inviting look that feels airy, open and full of personality.
Contemporary Kitchen by Sellars Lathrop Architects, llc
Sellars Lathrop Architects, llc
Colorful Accessories

A kitchen can be mostly white surfaces and still have a sense of life with just a few colorful accents. Notice the red dials on the range, which add personality, as well as the occasional accessory and plant life. These add up to a feeling of a more diverse palette without any single hue taking over from white as the focus.

Farmhouse Kitchen by Ardesia Design
Ardesia Design
Open shelves are an especially effective way of revealing some hits of color through everyday dish ware. With the plant life below, this kitchen feels miles from all-white.
Contemporary Kitchen by Martin Argyroglo
Martin Argyroglo
For a seasonal pop of color, try removable chair covers in a saturated hue. They’ll help add interest to an all-white scheme, are easy to clean and can be stored away between seasons to switch up the look throughout the year.
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http://www.houzz.com/ideabooks/49212922?utm_source=Houzz&utm_campaign=u1429&utm_medium=email&utm_content=gallery2

DIY Outdoor Stove/Smoker | Bedford Hills Real Estate

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For only $300, you can build this durable outdoor cooking unit that can function as a stove, oven, grill, and smoker.
The firebricks are stacked without mortar to allow for expansion and contraction as the temperature changes.

This DIY, wood-fired, outdoor masonry stove can be used four ways: for baking, grilling, cooking, and smoking. Whatever your cooking needs, our outdoor stove/oven/grill/smoker can do it, thanks to interchangeable grill grates and griddle surfaces. If you want to grill steaks or fish, use the grill grate. If you want to bake bread, slide on the steel griddle, stack some bricks on top to retain heat and add the door to hold in the heat. If you want to use the stove top, just slide the metal plate (or griddle) over the top of the firebox.

The MOTHER EARTH NEWS editors and I wanted to design a highly efficient, multi-purpose stove that uses little firewood (or charcoal) and retains heat for baking and cooking. So, we included a thick insulation layer of lightweight perlite/cement between the firebox and surrounding concrete block, and we included a removable door. This design holds the heat in the firebox where it’s needed. (Perlite is the porous white stuff often found in potting soils. You can buy this mined mineral product at garden centers.)

You can build the outdoor oven in stages, a few hours at a time. (You’ll need a few days between some steps.) Check local building codes before you start building. The oven is made from materials you can buy at local hardware or building stores. You may be able to find some of the materials at a salvage yard, too. (See the materials list and the building diagram). Detailed instructions for building the outdoor brick oven are below. Even if you only use it to bake bread, you can save enough money in one year to more than pay for the $300 cost.

Ideally, the stove is built to a comfortable height with concrete countertop space on each side, plus a roof to protect against the elements. We covered the concrete blocks with tile, primarily for aesthetic reasons, but you could apply stucco over the blocks, or just paint them or use the services of Central PA house painters. Having an outdoor sink and storage space nearby is also convenient.

Our outdoor oven requires a fire in the firebox for about 45 minutes to one hour to reach a baking temperature of 450 to 500 degrees Fahrenheit. Or, if you want to grill, you can start in less than half an hour. For comparison, it can take about three hours to get a clay earthen oven up to proper baking temperature. That’s a lot of time and firewood expended, which really adds up if you’re using the oven frequently. The firebrick used in our stove reaches cooking temperature more quickly than clay because its higher density makes it more efficient at conducting heat.

Another key design element is the firebox size — not too small, not too large, but just right. Properly sized fireboxes heat up quickly, have improved combustion, produce less smoke and stay hotter longer. We measured cookie sheets, bread pans, medium and large roasting pans, canners and baking dishes to arrive at our optimal firebox size of 13 inches wide by 28 inches deep by 13 1/2 inches high.

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http://www.motherearthnews.com/diy/home/stove-oven-grill-smoker-zmaz10amzraw.aspx

U.S. Housing Markets Strengthen | Bedford NY Real Estate

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Freddia Mac today released its updated Multi-Indicator Market Index® (MiMi®) showing the U.S. housing market continuing to stabilize with the strongest markets realizing the greatest benefits from a spring homebuying season in full swing.

The national MiMi value stands at 78.7, indicating a weak housing market overall but showing an improvement (+0.14%) from March to April and a three-month improvement of (+2.10%). On a year-over-year basis, the national MiMi value has improved (+3.57%). Since its all-time low in October 2010, the national MiMi has rebounded 33 percent, but it’s still significantly off from its high of 121.7.

News Facts:

  • Twenty-six of the 50 states plus the District of Columbia have MiMi values in a stable range, with the District of Columbia (97.8), North Dakota (96.3), Montana (92), Hawaii (91), and Alaska (87.4) ranking in the top five.
  • Thirty-five of the 100 metro areas have MiMi values in a stable range, with Fresno (94.8), Honolulu (92.3), Austin (92.1), Los Angeles (89.1) and Salt Lake City, TX (88.9) ranking in the top five.
  • The most improving states month-over-month were Washington (+1.49%), Indiana (+1.32%), Tennessee (+1.03%), Oregon (+0.83%) and Mississippi (+0.82%). On a year-over-year basis, the most improving states were Florida (+10.89%), Nevada (+10.55%), Oregon (10.29%), Colorado (+8.72%), and Michigan (+8.31%).
  • The most improving metro areas month-over-month were Palm Bay, FL (+1.51%), Portland, OR (+1.32%), Indianapolis, IN (+1.22%), Oxnard, CA (+1.22%) and Lakeland, FL (+1.99%). On a year-over-year basis, the most improving metro areas were Orlando, FL (+12.6%), Palm Bay, FL (+12.14%), Miami, FL (+11.97%), Cape Coral, FL (+10.73%), and Las Vegas, NV (+11.54%).
  • In April, 43 of the 50 states and 92 of the 100 metros were showing an improving three month trend. The same time last year, all 50 states plus the District of Columbia, and 99 of the top 100 metro areas were showing an improving three-month trend.

Quote attributable to Freddie Mac Deputy Chief Economist Len Kiefer:

“We saw a significant improvement in housing markets nationwide, with ten more metro areas and nine more states moving within range of their benchmark, stable level of housing activity. The West and Southwest areas of the country continue to lead the way, especially Colorado, Oregon and Utah, and California is right there as well. Unlike a year ago, when the most improving markets were those hardest hit by the Great Recession, we’re now seeing stable markets among the most improving as well. So the strong housing markets are getting stronger, which reflects the better employment picture, rising home values and increased purchase activity in these markets with the spring homebuying season in full swing.”

The 2015 MiMi release calendar is available online.

MiMi monitors and measures the stability of the nation’s housing market, as well as the housing markets of all 50 states, the District of Columbia, and the top 100 metro markets. MiMi combines proprietary Freddie Mac data with current local market data to assess where each single-family housing market is relative to its own long-term stable range by looking at home purchase applications, payment-to-income ratios (changes in home purchasing power based on house prices, mortgage rates and household income), proportion of on-time mortgage payments in each market, and the local employment picture. The four indicators are combined to create a composite MiMi value for each market. Monthly, MiMi uses this data to show, at a glance, where each market stands relative to its own stable range of housing activity. MiMi also indicates how each market is trending, whether it is moving closer to, or further away from, its stable range. A market can fall outside its stable range by being too weak to generate enough demand for a well-balanced housing market or by overheating to an unsustainable level of activity.