Baby Boomers, Laura, One Thirty Percent discussed on On Point with Tom Ashbrook | Podcasts - Raising The Roof On Home Renovation

Automatic TRANSCRIPT

Yeah that's another thing that's worth talking about is a lot what happened as a lot of communities after the housing bust looked around and said we let builders build all of these new homes in our communities and then they sat empty and it dragged down property values and it was bad for the tax base and so we're going to be a lot more cautious about what we let you build and how much we let you bill and so we've seen communities layer on more and more regulations there's all kinds of talk about these regulations about how far you can build from where birds have their nests and you know and and and and a lot of times they're requiring builders now to to put more of the infrastructure themselves so is just we're making it harder and harder to build and that creates an affordability crunched at this time when we're seeing this these sort of two big guerrillas in the room we're seeing boats baby boomers this huge generation that still owning homes and then millennials another huge generation that has just starting to get into homeownership and it's just creating this huge crunch everybody wants to renovate bottom of the home renovation market 2000 on your report american sprint two hundred twenty two billion motivations a third one thirty percent less than today of course in inflation adjusted terms whose toma where it was but then everything got so whipped up before the housing bust what if you renovate you've got to have some confidence in home prices is our people confident the prices are going to stay up where where are they compared to the peak before the bust of laura.

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