FIRST, THE BAD NEWS: Only rich people buy new homes any
New American Dream? Many Millennials dream of living in Eco-Friendly urban apartments like these hip Rosa Parks models in Chicago.
more. The homes they buy are often environmentally suspect, encourage sprawl, and contain enough room for at least two families. But behind those facts are some encouraging trends--and market opportunities for progressive builders and developers.
"The first time buyer has really fallen away," notes NAHB Chief economist David Crowe, speaking this morning in Houston, at the annual NAREE conference."Builders are now only selling at the upper end of the spectrum. People are buying only if they already have good credit, and house sizes are larger than ever."