Tag Archive: HomeAid America

  1. Meyers Research Raises over $45,000 for HomeAid America

    Our 2018 Housing Market Outlook in Newport Beach was a huge success, with our strongest turnout ever!  Thank you to all attendees and sponsors who helped us raise $45,000. To date, we’ve raised a grand total of $572,000 in net proceeds for HomeAid America.

    We have spent the past 4 years partnering with HomeAid because we firmly stand behind their mission to provide housing for those that need it the most — homeless families. The organization builds and renovates multi-unit shelters for America’s homeless families and individuals (more than one million of whom are children) while the residents rebuild their lives. For over HomeAid’s 29 years in operation, they’ve built over 500 projects. This is a cause we are happy to support.

     

     

    SESSION HIGHLIGHTS

    Economic Overview
    Presented by Robert Kleinhenz, Economist and Executive Director of Research at Beacon Economics

    Everyone in the room was relieved to hear Robert’s bullish take on the national economy, supported by tax cuts and full employment. He urged the audience to make good use of these circumstances and look for ways to address the housing shortage to serve the robust demand. The highlights from the economic session are below:

    The Economic Landscape Is Positive

    • Consumer growth is steady due to gradually rising wages and constrained debt levels. It appears the Great Recession created a more cautious consumer
    • We’ve reached the theoretical point of “full employment” with an unemployment rate of 4.3%. The unemployment rate would be lower if companies could find qualified workers
    • The tax cuts will likely spur additional economic activity throughout 2018 and 2019 from both consumers and businesses. In particular, the favorable tax treatment will lead to more business investments
    • As we work through trade talks, we need to maintain stability with Canada and Mexico, two of our strongest trade partners
    • Tariffs on aluminum and steel will raise costs, but the impact will be minor for consumers

    Positive Housing Demographics With Major Affordability Headwinds

    • Home prices in California have come back nicely, steadily increasing since the trough. Apartment rents are also on the rise. While both of these are generally good for a market, home prices and rents are far outpacing income growth
    • The housing shortage is a real problem in California. We need to build 200,000 homes in California annually to address the demand, but we’ve only hit 100,000. The dearth of housing inventory is a major factor contributing to the aforementioned price appreciation and subsequent affordability challenges
    • We are waiting for a big boost in home sales; the sales trajectory hasn’t broken out of the narrow range since the start of the recovery. While demographics are in the housing market’s favor and Millennials are in a good shape to become homeowners, first-time homebuyers are struggling to both come up with the down payment and qualify for a loan.
    Builder Panel Session

    Moderated by Jeff Meyers, President at Meyers Research

    Panelists:

    Bert Selva, President and CEO at Shea Homes
    Jeff RoosRegional President at Lennar Corporation
    Jim BoydRegional President at Toll Brothers
    Emile HaddadChairman and CEO at FivePoint Communities

     

    The major theme of the builder panel was adapting to change by addressing uncomfortable challenges. Adaptability and continuous reinvention were unanimously agreed upon as the key to staying relevant in the industry.

    Lennar & CalAtlantic Merger Challenges

    • Lennar is now in 38 markets, with top market share in many
    • The merger came with some growing pains. Lennar is working to integrate the information technology of both operating platforms by summer
    • There is a changing focus on Lennar’s digital marketing platform; they want to get to people before they buy a home

    Upping The Game At Toll Brothers

    • Toll Brothers thinks about their homes from a homebuyers’ perspective and considers objections before they even receive them. Hidden Canyon, a community in Irvine, is a great example of this. They spent roughly $1 million on landscaping to demonstrate what you can achieve with limited yard space
    • Toll Brothers is also focusing dollars on merchandising their communities. One of their goals is to include 20+ flat screen televisions in each model home

    Shea Homes Creates A Balance

    • Shea doesn’t shoot from the hip. The company aims to create balance by creating a strategy. They spend the extra time to define the areas they want to be and reflect on their core markets
    • Shea learned through consumer research that technology matters to some of their home buyers. As a result, they’ve invested in Ring as a new home technology

    If you were unable to attend our Outlook, there are still plenty of ways to contribute to HomeAid America. Connect with your local HomeAid chapter to see how you and your colleagues can help with activities such as diaper drives or booking a shelter tour. There are currently 17 chapters in 12 states, with a continued effort to expand further. You can also donate to HomeAid directly to enable them to continue to build new facilities where America’s homeless can rebuild their lives.

  2. Why HomeAid Matters

    There’s a reason why we’ve spent the past four years partnering with HomeAid America. As part of the building and housing industry, we never want to lose sight of building housing for those that need it the most — homeless families.

    We caught up with Peter Simons, the CEO of HomeAid, to bring awareness about what your donation goes toward when you attend our Housing Market Outlook, why he thinks you should attend, and how else you can help. Our next one is April 18, 2018 and we hope to see you there!

     

     

    When someone attends a Housing Market Outlook, what does their donation go toward?

    100% of the proceeds support our programs to build housing for charities helping the homeless, giving them shelter, and a place to rebuild their lives. HomeAid is one of largest builders of housing for the homeless in the country, and the building industry should be very proud of the work they are doing through HomeAid to solve this problem.

    Why should industry professionals attend this event?

    The content of this event speaks for itself, even without the charitable component related to HomeAid. The speakers are high profile homebuilding leaders and economic experts that are more than worth the price of admission. We have done 12 of these events around the country now, and have never failed to deliver valuable takeaways in an entertaining format.

    Besides attending events like this, how else can people help your organization?
    HomeAid has chapters in 18 markets across the country. If you are in one of those markets, there are a number of ways to help out the local chapter. It will be a rewarding experience you will never forget!

     

    Feel free to share this infographic on your blog or social media by clicking on the share button at the top right corner. 

  3. In Case You Missed IBS & Our 2018 Housing Market Outlook

    IBS Orlando was an inspiring, busy, and exciting way to start off the new year with over 85,000 attendees. Our experts spoke at 6 sessions, hosted a Zonda lounge at the Ritz, and emceed the Nationals. What a whirlwind!

    If you missed it, have no fear. We packaged up a great recap for you. Find out what Millennials are doing about unaffordable homes, how long this year’s strong economy is predicted to last, and more below.

    Meyers Research IBS 2018

    2018 Starts Off Strong, But How Long Will It Last?

    “We are not oversupplied, prices are starting to level, and we have job growth. Generally, we’re in pretty good shape. 2018 is pretty positive.” –  Tim SullivanManaging Principal

    Watch Tim give an interview on Professional Builder Show Village LIVE where he answers the new year’s most pressing questions:

      1. How long will the economy hold up prior to a downturn? Is a downturn coming?
      2. What could cause the next recession?
      3. For a builder, what would you tell them to pay attention to over the next few years?
      4. Is land development an untapped opportunity?

    Solutions For Millennials Who Struggle With Affordability

    Ali Wolf, our Director of Economic Research, partnered with Danielian Associates Architecture + Planning to marry data & design to figure out the best ways to provide attainable housing for Millennials. Watch her interview and read her top talking points from her session on Millennials below:

    Two Millennials Tell All: Deconstructing Today’s First-Time Buyers And Their Design Preferences

        • Millennials say affordability is the #1 reason they don’t already own a home. In just the past 5 years alone, national incomes have risen 10% compared to 40% price appreciation for new and existing homes. Making matters worse, the demand for bottom-tiered home prices, largely driving by first-time buyers, is pushing prices in this segment up faster than middle- and top-tier homes.
        • We ran the math. A new single-family detached home is unaffordable for the average Millennial in 40% of the top markets in the country, assuming a 10% down payment. Using the same assumptions, only 20% of the top markets are unaffordable when looking at the median attached new home price (assuming a $150 HOA). While Millennials will almost unanimously tell you they are seeking a single-family detached home, many are willing to make a compromise on their first home.

    In the interactive session, Ali learned:

        • The majority of Millennials polled are willing to make parking concessions to get into homeownership (like giving up the standard two car garage)
        • Most of the Millennials would opt to skip on a tech savvy home on day 1, knowing they’d make adjustments in the future
        • 100% of the Millennials in our audience value value over quality for their first home (i.e. cheaper wood floor alternatives compared to actual wood floors)
     Zonda Continues To Lead The Data Front

    Remember the saying, “a picture is worth a thousand words?” That rang especially true for the executives, sales, and marketing teams who stopped by our booth and saw Zonda as a “left brain – data” “right brain – images” app that allowed them to visually see market trends. Zonda’s beautiful imagery such as heat maps and easy-to-understand infographics made everyone realize that you don’t have to be traditionally trained in data to understand it.

    Sign up for our webinar to help your team be housing data advocates: Zonda Basics For Non-Data Users

    WE RAISED $27K FOR HOMEAID AMERICA

    We’ve donated 100% of the money we raised from our 2018 Housing Market Outlook to Homeaid to help build housing for today’s homeless. We are humbled by the generosity of our sponsors and attendees to support a cause we deeply care about. Thank you!

    Our 2018 forecast was the imminent disruption of the housing industry, with tech as a significant factor in revolutionizing the way home building and builders operate now. Read ProBuilder’s full coverage of our event.

    We will have another Housing Market Outlook event on April 18th in sunny Newport Beach, CA. Early bird tickets are already available! If you know you can’t make it, please consider making a donation in any amount.

    Eventbrite - 2018 Meyers Housing Market Outlook

    Ashley Soo, Content Strategist
    EMAIL ASHLEY | ASHLEY’S PROFILE

  4. An Economic, Capital, And Building Perspective On The Current Market

    Our recent Orange County outlook, in partnership with HomeAid, gathered a warm room of experts filled with reflections from past years and ideas for 2016. We learned about roadblocks and successes our peers are experiencing and discussed strategies to navigate the current environment. The charity event raised $46,000 for the homebuilding industry’s main philanthropy, HomeAid. Their mission is to fight homelessness and they have placed nearly 250,000 previously homeless people thanks to the generosity of the building industry. To date, Meyers Research has raised over $275,000 in proceeds for the charity. Below are some key highlights from our event.

     HIGHLIGHTS 

    Economic Overview. Our Chief Economist, Kevin Gillen Ph.D., presented on the national economy and the Southern California landscape. Kevin highlighted that the national economy is still recovering. He pointed to different positive macroeconomic indicators that showcase this, including improving consumer confidence, gains in the labor market, and steadily increasing inflation. This recovery, however, is starting to exceed the time of a normal expansion period; only three business cycles historically have been longer than the one we are in. The majority of national economists predict the next recession will come in 2018, though it is expected to just be more of a slowdown as opposed to the last crash we experienced.For the Southern California housing market, real estate has yet to fully recover, even though we are five to six years into the recovery. Here are some of the reasons for the nascent recovery (and they all come back to price):

    • Limited land supply. It’s no surprise that premium locations in California are short on land, but the inelastic land supply contributes tremendously to the supply/demand imbalance in the region, driving up home prices.
    • Rising construction costs. Another factor pushing up prices is rising construction costs. Cited for years as a headwind to homebuilders, rising costs (in both labor and materials) makes it harder for builders’ deals to pencil. One bright spot is the lower cost of oil and gasoline.
    • Prices are outpacing wage growth. California’s homeownership rate is historically lower than the national figures, but rapid price appreciation experienced in the market over the past few years exacerbates the issue. Wage growth has been steady in California, but hasn’t been able to keep pace with rising prices. At the peak of the boom, California’s homeownership was 60% and today it’s down to 55%.
    • New homes are becoming an elite good. Coastal California new home prices are significantly above their previous peak, driven by the aforementioned higher costs of development and limited new supply. Prior to the recession, the price premium of new homes over existing was declining, but the spread has been steadily growing for seven to eight years. Existing home prices are around previous peak levels, but relative to the price of new homes, they seem like an affordable option.

    Looking past the headwinds, 2016 will still be a decent year; we should continue to see GDP growth, price appreciation, and job growth, but at a slower rate.

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    Capital session. Moderated by Jeff Meyers (President of Meyers Research), the capital session with Dan Hanson (Executive Vice President National Production at imortage), Tom Orradre (Managing Partner at Isles Ranch Partners, LLC), and Connie Emmitt-Stern (Executive Vice President of Investments at The Resmark Companies) discussed the opportunities they see at this point in the cycle. Consensus was that home price appreciation is still occurring in highly desirable locations, but overall has moderated compared to the past few years. The market isn’t telling them to be aggressive this year, rather to monitor margins closely and get disciplined with their investments. The potential for pent-up household formations to unleash over the next few years is a big source of confidence, but a dearth of inventory could interfere. The panelists were asked what their top market picks are and the group came up with Phoenix, the Bay Area, Orange County, Texas, San Diego, and Los Angeles.

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    Building session. Tim Sullivan (Practice Leader of Meyers Research) moderated a homebuilding session with panelists Jeff Roos (Regional President at Lennar Homes of California), Bert Selva (President and CEO of Shea Homes), and Frank Suryan (Chairman and CEO at Lyon Living). In the Orange County rental market, they believe rents have topped out due to an oversupply. With Millennials delaying major life events (getting married, having kids, buying a home, etc), the way people rent and live in an apartment has changed dramatically and developers need to figure out ways to keep up with the shifting preferences. They discussed how slowing absorption rates in the Orange County for-sale market also have to do with an over-saturated market (though some stats show this is more related to a slowing number of international buyers). The panel finished with how the builders are positioning themselves for a downturn in 2017/2018. Their strategies included growing conservatively, looking at deals on a shorter timeline, keeping relationships with patient capital, continuing to improve and stay ahead of the game, and not getting greedy.

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    Thank you to our sponsors and to all the attendees for the support! Our next event in partnership with HomeAid America will be in Atlanta in October. Stay tuned for updates.

    Timothy P. Sullivan, Practice Leader – Advisory San Diego
    EMAIL TIM  |  TIM’S PROFILE 

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