What a difference a decade makes. Ten years ago, the regional homebuilding industry — like many other industries — faced an uncertain future. The Great Recession dealt a harsh financial blow to our industry that made the prospect of recovery feel like a far-off possibility. Fortunately, after several lean years our industry has started to climb out of the economic doldrums of a few years ago.
If you’re going to live in a 3D environment, you need to see a 3D environment.”
These are the words of Stephen Phillips, co-founder and chief technology officer at Theia Interactive, a design firm based in Chico. His company creates VR tours for people looking to build or buy homes, cars and yachts. It was one of the four startups to come out of the Green Screen Institute’s first accelerator program.
Young people are flocking to the Sacramento region’s suburban areas. A recent SmartAsset report — that defines millennial homebuyers as under age 35 — found that Elk Grove sits at the No. 2 spot in the U.S. for millennial home buying. In Elk Grove, “the homeownership rate for millennials was 60 percent in 2015,” according to the report.
Now that millennials are older and starting to have kids, the economics of schools and space are driving many of them to the suburbs, just as it did their parents.
Erin Stumpf, a broker associate at Dunnigan Realtors, gives her perspective on real estate in Sacramento. For more from Stumpf, check out “The Great Millennial Migration,” in our March issue. Sign up for our newsletter and we’ll email you when it’s available online.
Nehemiah Corp., a social enterprise nonprofit that has spent two decades developing programs that help low-income people afford homes, is winding down most of its operations, the company has announced.
There’s an ethical reason to follow safety measures on construction sites, but there’s also financial reasons. The first is obvious: It’s simply the right thing to do to take care of your employees and ensure their workplace safety. The second is that insurance rates can skyrocket for companies that have numerous on-site injuries and incidents. It’s worth the time and investment in safety training, in order to save tens of thousands of dollars, he says.
The housing crunch is a problem affecting both the working class and the professional class. Workers move to the area lured by lucrative resort jobs, then find themselves stuck when the cost of housing nearly outstrips their pay.
Roseville’s downtown — once the civic core — is now off the beaten path, given how the city has developed over the years, spreading out with subdivisions and new thoroughfares that keep people away from this original urban center.
Dayton, Ohio, gave the world the Wright Brothers and the electric cash register. As recently as 1990, manufacturing jobs there were the backbone of the local economy. But in the two decades since, the area has lost thousands of blue-collar jobs, and the local housing market still wears the scars of the foreclosure crisis.