Inside Lending Newsletter From Kristen Zorda
QUOTE OF THE WEEK… “Don’t worry about people stealing your ideas. If your ideas are any good, you’ll have to ram them down people’s throats.” –Howard H. Aiken, American computing pioneer
INFO THAT HITS US WHERE WE LIVE… The good idea we have to keep hammering home to people is that real estate continues to recover. Friday saw Housing Starts shoot up 13.2% in April, the fastest pace in five months, to a 1.072 million unit annual rate. Those who doubt the housing recovery were quick to point out the very mild 0.8% increase in single family starts, ignoring their 9.8% gain over the past year. Yes, multifamily starts are up much more. But these units work well for two segments: young people wanting a flexible lifestyle and retiring baby boomers looking for less to maintain.
April Building Permits told a similar tale: up 8.0%, to a 1.08 million annual rate, with multifamily permits driving the train. Multifamily numbers are volatile month-to-month, so what’s important is the overall underlying trend, which is decidedly upward. Home completions fell for the month, which confirms that this winter’s weather had a big impact. As crews move outside, the total number of homes under construction but not yet finished was up 2.5% in April and is up 21.3% over a year ago. The NAHB builders confidence index dipped below 50, but there is a shortage of lots.
BUSINESS TIP OF THE WEEK… Stop multitasking! People don’t really do two things at once, they just keep switching their partial attention between tasks, which only creates stress. Give each job ALL your attention and you‘ll be amazed at what you accomplish.
648 Plank Rd. Suite 203
Clifton Park, NY 12065
Orson B.Klender, Associate Broker
Keller Williams Realty Saratoga Springs
38 High Rock Ave, Saratoga Springs, NY 12866
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Cell: 1 (518) 588-2319 ~ Fax: 1(866) 588-6066