This is the fourth consecutive year that Orlando's Orange County Convention Center has played host to the International Builders Show. In those four years, the housing market has been sinking, sinking, sinking.
There is an end in sight. At least David Seiders, chief economist for the National Association of Home Builders sees one. The market will continue its slump for most of 2008, Seiders said this week, before starting to emerge in 2009. Long Island builders and remodelers seemed to think along the same lines a few weeks ago, when I spoke to many of them about this year's show and their thoughts on the upcoming year.
There are a couple of bright spots, however. Long Island builders and suppliers say the market for high-end homes, those costing $3 million or more, is steady. One supplier seemed to think high-end homes was keeping the industry going. It seems the wealthy have enough in reserve to be sufficiently shielded from the plunge in the housing market.
Nationally, there have been slight increases in consumer demand for multi-family homes. perhaps for close-knit families, a number of factors play into the statistics. One reason for the upswing, I suspect, is that more young families can't afford a home of their own. So, grandma and grandpa, looking to downsize, simply move in with one of the kids.
They must figure now is a good time to purchase a home and live comfortably together for the next few years. Maybe in that time frame the market will turn for the better or they'll be better able to afford single-family residences.
Either way, some people are building and buying. That's a good sign.