Total Florida single-family permits were down a bit in August. Only Orlando, The Villages and Jax were up. Year over year, we are up about 7% for single family permits and a whopping 24% for multi’s. Several items are attached to this email, including the Piper Jaffray Building Products report, the Don Hayes lumber & plywood report, as well as my regular charts.
The stock market gyrations continue to fill a lot of the news. Europeans who have traditionally bought vacation homes in Florida are preoccupied with the influx of Syrian refugees. This is expected to be a short term hiccup, because the new immigrants will be trained to fill jobs that are going begging. The low birth rate of Europeans has created demand for immigrant workers.
Here is an article from Reuters, which states that the sentiment of builders is the now the most positive that it’s been in nearly ten years. http://in.reuters.com/article/2015/09/16/usa-economy-housing-nahb-idINN9N0ZQ02920150916 The NAHB is predicting 1.1 million new homes in 2015, which approximates our national historic needs for replacement of homes and apartments lost to neglect, fires and floods. We are somewhere between “recovery” and “growth” modes – but – we are certainly heading in the right direction.
Building Products August 2015