We're an independent research provider and consulting firm focused on the housing industry. We compile and analyze an unprecedented volume of information to keep our clients informed. Utilizing our trusted analysis, our clients can:
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by Rick Palacios Jr.
In late 2008, oil and gas pipeline construction workers earned $0.46 per hour more than new home framing contractors. Today, they earn $8.15 more per hour. It's no wonder labor is tight in the new home market, especially in Texas and Denver, the closest major markets to North Dakota. Since 2008, framing contractor wages have fallen 8%, while oil and gas pipeline construction wages have swelled by 20%.
by Rick Palacios Jr. and Ali Wolf
8% fewer homes will transact than normal in 2014, purely due to student debt.
This week, our clients received a 30-page paper that assesses the impact of student loans on home buying for households under the age of 40. Our conclusion is that 414,000 transactions will be lost in 2014 due to student debt. At a typical price of $200,000, that is $83 billion per year in lost volume.
Source: John Burns Real Estate Consulting, LLC
The analysis was quite complicated and involved a few assumptions, but we believe it is conservative, primarily because we looked only at those under the age of 40 with student debt.
At a high level, the math is as follows: