U.S. should see solid housing growth
Population and household growth expected to fuel housing growth through 2022.
According to “Housing: United States,” a new report by Freedonia Focus Reports, U.S. housing starts are forecast to see annual growth of 2.4% through 2022.
Freedonia – a Cleveland, Ohio-based research firm – says builders will benefit from rising levels of employment and strengthening consumer finances. Population growth and household creation will also support gains.
But despite robust annual growth projected for housing starts, and a strong U.S. economy, total 2022 activity is only expected to reach 2007 levels.
The vitality of the housing market in the years leading up to 2007 was boosted by unsustainable factors – including easy access to credit – that are unlikely to reoccur in the forecast period.
Single-unit conventional housing starts are projected to remain the largest segment, Freedonia said.
Rising household formation will continue to support new residential construction. However, the average size of new single-unit conventional homes is expected to decline to 2022, reversing the gains of the 2007-2017 decade.
Busy Beaver opens third new location in 2018
The latest store includes a drive-thru lumberyard, contractor services, and a farm and ranch department.
Busy Beaver has opened its newest location in New Castle, Pa.
The new store marks the third new location that Busy Beaver has opened this year.
Similar to Busy Beaver’s new Grove City and Greenville, Pa. locations that opened earlier in 2018, the 40,000-square-foot New Castle store features an expanded seasonal department, a drive-thru lumber yard, a farm and ranch department, and a designated contractor service center.
The New Castle Busy Beaver store brings approximately 15 new full-time and 10-15 part-time jobs to the region.
Busy Beaver first opened in 1962 when the company started with a few lumberyards in the Pittsburgh area. It now has 21 locations and more than 350 employees across western Pennsylvania, eastern Ohio and northern West Virginia.
CEO Joe Kallen, also a majority owner of Busy Beaver since 2013, has been largely responsible for revitalized the brand.
Under Kallen’s watch, the company has grown from 14 to 21 stores. The company has also renovated half of its original stores. In 2015, it joined the True-Value co-op to better serve customers and support growth, Busy Beaver said.
Readers Respond: Software solution investments
Nearly half of poll participants are considering software investments.
From workforce management to merchandise markdown optimization, business software is a proven efficiency builder for small and large businesses. The latest HBSDealer poll question gauged the interest of the industry regarding technology tools.
We asked readers: “How likely is your company to invest in some type of business-solutions software in the near future?”
Here’s what we heard:
Very likely. We are considering options, 47%
Not likely. We have other priorities, 30%
Somewhat likely, maybe next year, 23%