Reasons to Be Skeptical About a Millennial Homebuying Boom in 2016
December 10, 2015 —
Patrick Clark – BloombergPredicting whether millennials are finally going to start buying homes in large numbers has become a seasonal sporting event for real estate experts (also something resembling a periodic parental nag). There's good reason for the abiding fixation. Millennials are the largest generation in the U.S. labor force and something akin to guppies in the housing market food chain: When a first-time buyer moves into an entry-level house, it lets the sellers upgrade. But they've been held back by housing price increases that outpace wage hikes, not to mention limited access to credit, and rising rents that make it harder to save for a down payment.
Will next year be the year that millennials1 finally satisfy builders and real estate agents (not to mention mom and dad) by making their presence felt in the housing market? Yes, but not to the degree that many might hope.
Millennials will make up the largest share of homebuyers in 2016
This is more of a demographic inevitability than a prediction. Historically, the largest share of U.S. homebuyers have been between 25 and 34 years old. Millennials will buy one out of three homes in 2016, predicts Jonathan Smoke, chief economist for Realtor.com, a small uptick from this year. If you prefer your glass half empty, though, Zillow Chief Economist Svenja Gudell thinks the median age of first-time home buyers will hit a new high next year. In either case, Americans will continue the trend of buying their first homes later in life than they did in past decades, as the chart below shows—likely due to some mix of wage stagnation, rising housing costs, and a tendency to start families later in life.
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Patrick Clark, Bloomberg
Los Angeles Tower Halted Over Earthquake and other Concerns
December 04, 2013 —
CDJ STAFFPlans to build the Millennium Hollywood project have been halted over lawsuits alleging that the Hollywood fault line runs under the site and would render it unsafe. Additional claims are that the buildings would block views of the Hollywood sign. But Robert Silverstein alleges in his suit that the buildings would endanger lives.
The Millennium claims that the project would create about 3,000 construction jobs, and that after the building were complete, they would create 1,000 jobs.
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The Sounds of Silence: Pennsylvania’s Sutton Rule
January 29, 2024 —
William L. Doerler - The Subrogation StrategistIn Westminster Am. Ins. Co. a/s/o Androulla M. Toffalli v. Bond, No. 538 EDA 2023, 2023 Pa. Super. LEXIS 626, 2023 PA Super 272, the Superior Court of Pennsylvania (Appellate Court) recently discussed the impact of silence on the Sutton Rule with respect to the landlord, Androulla M. Toffalli (Landlord), securing insurance. After holding that the tenant, Amy S. Bond (Bond) t/a Blondie’s Salon – who leased both commercial and residential space in the building pursuant to written leases – was not an implied “co-insured” on Landlord’s insurance policy, the Appellate Court reversed the decision of the trial court.
In this case, Bond rented the ground floor of a property located in Monroe County pursuant to a written commercial lease (Commercial Lease) and operated Blondie’s salon out of the leased location. In addition, Bond rented and lived in a second-floor apartment pursuant to a residential lease (Residential Lease). Both leases required the tenants (Tenants) to obtain insurance for personal items. The leases, however, did not require Landlord to obtain fire insurance for the property.
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William L. Doerler, White and Williams LLPMr. Doerler may be contacted at
doerlerw@whiteandwilliams.com
Idaho Business Review Names VF Law Attorney Brittaney Bones Women of the Year Honoree
July 31, 2023 —
VF LawMeridian, Idaho: June 23, 2023 –
VF Law, a full-service law firm with offices across the Pacific Northwest and the Southwest, is pleased to announce that associate
Brittaney Bones has been recognized as an honoree for the 2023 Idaho Business Review Women of the Year Awards. The distinguished recognition celebrates 50 female leaders across Idaho who have made their mark while continuing to pave the path of leaders for the future.
When reviewing the applications, the judges considered excellence in leadership and a willingness to advance mentorship opportunities among the other considerations. In her work with the Community Associations Institute (CAI) Idaho, Bones currently serves as Vice Chair for the Legislative Action Committee. She monitors state legislation coming out of Boise. Accordingly, Bones seeks to educate lawmakers specifically on how pending legislation will affect the lives of people living and working throughout the Gem State. She also mentors students at the College of Idaho and has donated her time to the Rock Bottom Foundation, which provides meals to the unhoused.
Bones’s other accolades include an International Law Writing Award from Davis Wright Tremaine (DWT) for her 2020 article “Potential Solutions to Concerns over the Treatment of U.S. Investment in China: The Need for a U.S.-China Bilateral Investment Treaty.” She frequently speaks at CAI events, helping to prepare her fellow legal professionals for challenges in the field—and those yet to come.
About VF Law
VF Law is a full-service, multi-state law firm. At VF, we believe that experience and knowledge are crucial; that’s why every attorney on our staff maintains a high level of expertise to ensure client success. VF possesses unmatched experience in providing HOA guidance, planning for healthy buildings from the ground up, helping small businesses and corporations run smoothly, handling real estate transactions and disputes, creating wills and trusts, and more. Visit www.vf-law.com.
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Happenings in and around the West Coast Casualty Seminar
April 02, 2014 —
Beverley BevenFlorez-CDJ STAFFFor those who are attending the West Coast Casualty Construction Defect Seminar May 15th-16th, the Construction Defect Journal has compiled a list of concerts, sporting events, and museum exhibitions taking place in and around Anaheim that week. Whether you like to spend your personal time checking out a new band, or watching your favorite Angel slide into home, or perusing the local art museum, there is something to spark your interest.
CONCERT VENUES
THE HOUSE OF BLUES IN ANAHEIM
Blessthefall with Silverstein, The Amity Affliction, SECRETS and Heartist
Tuesday, May 13th, 2014 Doors Open at 6pm / Show Begins at 7pm
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THE HOUSE OF BLUES IN ANAHEIM
Stephen "Ragga" Marley
Saturday, May 17th, 2014 Doors Open at 8pm / Show Begins at 9pm
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THE GROVE OF ANAHEIM
Lindsey Stirling plus special guest Dia Frampton
Wednesday, May 14, 2014 Doors Open at 7pm / Show Begins at 8pm
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THE GROVE OF ANAHEIM
Primal Fear
Thursday, May 15, 2014 Doors Open at 6:30pm / Show Begins at 7pm
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THE GROVE OF ANAHEIM
Jillian Michaels 'Maximize Your Life' Tour
Friday, May 16, 2014 Doors Open at 6pm / Show begins at 8pm
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SPORTING EVENTS
ANGEL’S STADIUM - BASEBALL
The Los Angeles Angels of Anaheim v. Tampa Bay Rays
Thursday, May 15th at 7:05pm
Friday, May 16th at 7:05pm
Saturday, May 17th at 6:05pm
Sunday, May 18th at 12:35pm
For More Information and to Purchase Tickets...
MUSEUM EXHIBITIONS
MUZEO
Transcending Trash: The Art of Upcycling
Sat Apr 26 – Sun Aug 31, 2014
Museum Days/Hours: Tuesday – Sunday (Closed Mondays) / 10 am to 5 pm
For More Information and to Purchase Tickets...
BOWERS MUSEUM (Santa Ana)
BEETHOVEN: THE LATE GREAT
February 8, 2014 - May 18, 2014
Museum Days/Hours: Tuesday – Sunday (Closed Mondays) / 10 am to 4 pm
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Kushner Company Files Suit Against Jersey City Over Delays to Planned Towers
July 10, 2018 —
Associated Press - Engineering News-RecordJERSEY CITY, N.J. (AP) — Jared Kushner's family company has filed a lawsuit against a New Jersey city, saying it forced the delay of a major twin-tower project due to "political animus" toward President Donald Trump.
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Engineering News-RecordENR staff may be contacted at
ENR.com@bnpmedia.com
New OSHA Fall Rules to Start Early in Minnesota
June 14, 2011 —
CDJ STAFFMinnesota has elected to implement the new OSHA rules concerning fall prevention in residential construction on June 20, well before OSHA’s September 15 deadline. Brian Johnson, reporting in Finance and Commerce, quotes Pam Perri, the executive vice president of the Builders Association of Minnesota, “this is the worst time to implement a new rule.” Ms. Perri notes “In Minnesota, education time for the residential construction industry is between November and March 1, not in the middle of the construction season.”
Mike Swanson of Rottlund Homes estimated that the new regulations would add between $200 to $500 to the cost of a house and that he felt the current safety regulations were adequate. OSHA officials are quoted that there continues “to be a high number of fall-related deaths in construction.”
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Mitigating Mold Exposure in Manufacturing and Multifamily Buildings
July 31, 2024 —
Laura Champagne - Construction ExecutiveAs hurricanes season and summer storms approach, more apartment complexes, commercial and industrial properties, and public buildings are at risk of leaking and flooding. Water-saturated structures are prime breeding grounds for mold, but there are ways to prevent, detect and remove it before it becomes a serious and costly issue—for buildings and building residents alike. Being proactive limits an owner’s exposure to the liability of debilitating health effects and structural safety concerns.
Mold requires three things to grow: water, food and humidity. Water will stealthily penetrate small porous surfaces of any building material, such as drywall, plaster, wood, concrete or even fabrics. These materials serve as a food source to quickly produce more fungus. Common sources of undetected water flow include foundation problems, poorly installed windows, roof malfunctions, gutter clogs, storm damage, leaky pipes, improper drainage, HVAC issues, faulty appliances, bathroom vent issues and wet building materials. Mold loves humidity and thrives in dark, warm environments, such as attics, basements, lofts, building corners and bathrooms.
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Laura Champagne, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.
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