Industry Trends5 min

How “Attainable” Are New Homes?

When people talk about home “affordability” it boils down to one number: the asking price. But home “attainability” is a more complex equation. Attainability refers to a prospective buyer’s ability to find an entry-level home (no easy task these days), obtain a loan and pay for 30 years of ancillary costs like utilities, maintenance and insurance.

Here’s a shocking statistic that shows why home attainability is out of reach for millions: according to government figures, the median net salary of U.S. workers is $31,561. That means that after taxes, 50% of American workers take home less than that amount.

Some cities are now homebuyer magnets because they offer a real shot at attainability. In El Paso, for example, a worker can qualify for a new home loan with an annual gross salary of just $32,185. In Oklahoma City, a gross salary of $33,507 is all that’s required. There are many other cities across America that have ample attainable housing, including Roanoke, Va., Battle Creek, Mich., and Binghamton, N.Y. 

Builders in these communities are providing plenty of starter homes, not just high-end models. In El Paso, half of all new homes cost less than $158,000. That makes the long-term costs of insuring and maintaining a home much easier to bear.

The bottom line: we can’t all live in Beverly Hills. Fortunately, there are still builders who understand that society benefits greatly when housing is attainable.

Continue Reading
Business Advice6 min

5 Tips to Conquer Cash Flow Challenges

If you’re feeling the pinch in cash flow this month, you’re not alone. In fact, 84% of all construction companies face tough cash flow challenges, enough that it stalls company growth. Without good cash-on-hand, companies find they are unable to hire more employees or take on additional projects.

Continue Reading
News & Stories5 min
LP’s Commitment to Sustainability

The last Wednesday in October has been designated Sustainability Day throughout the world. Since the mid-1990s, LP has made great strides in sustainable forest management and manufacturing – and both Donna Kopecky, LP’s Public Policy & Sustainability Manager, and Kevin Warkentin, LP’s Business Environmental Health and Safety Manager for OSB and EWP, have been there every step of the way.

How Remodelers Sell Value to a Homeowner

Over the past 25 years, Jim Peterson has learned how to sell value to his remodeling customers. Peterson owns Rembrandt Exteriors, LLC in southern Wisconsin, an area where ordinary wood siding can take a beating. Here are some of the reasons that make engineered wood siding a smart choice that will deliver value to a homeowner.

Business Advice5 min
Tips for Increasing Builder Profit

There are basically two ways builders can boost their bottom lines: lower costs and increased revenue. In a previous blog, we focused on the cost-cutting aspect. In this post, we’ll explore ways for builders to increase profit.