How The High Tech Home May Have Helped Create The Housing Boom : The Real Estate Bloggers

How The High Tech Home May Have Helped Create The Housing Boom

December 26th, 2007 • Related • Filed Under

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HightechhomeIf you are wondering why so many new homes were built recently, it may be a by-product of the technology boom. Wired has an article that places the blame on the housing boom on techno-lust, but I just attribute that to the prism that they see the world through.

However, this paragraph is telling. According to a study cited by Wired over 74 percent of people wanted a new home. That could explain the skewed numbers builders looked at, but with the inventory of existing homes the math does not add up.

Of course the amount of homes in unsold inventory does not add up so logic may not play a part in the equation.

Still, you’d never guess it when shopping for real estate. That charming 1920s three-bedroom craftsman wasn’t built to accommodate all these new devices, much less modernized subsystems like updated electrical, solar power, or flexible plastic plumbing. Which is one reason Americans have come to prefer new homes to pre-owned ones. Check out these numbers: In 1993, just 48 percent said they hoped their next house would be newly built. By 2004, that number had grown to 74 percent. via Wired

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There Is 1 Response So Far. »

  1. Comment by REI Pipeline on 26 December 2007:

    That’s very interesting, however, I’d be curious if it really does hold water. 74% of buyers prefer new construction is a pretty large claim. Any ideas on how they did their research on that?

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