As we kick off 2018, builders, architects and product manufacturers are making their predictions and looking for new opportunities in the year ahead.
Panelists at NAHB’s 2018 Housing & Economic Outlook presentation at IBS were cautiously optimistic about the coming year. They foresee 5 % growth in single-family starts and strong growth in residential remodeling in 2018. Although they predict that multifamily starts will level off this year, activity won’t drop as sharply as in 2017. The consensus is that there will be steady housing growth in the year ahead.
Perhaps the biggest challenge on the horizon is that housing demand is outpacing construction due to labor and land availability constraints. New entry-level buyers will have to contend with rising home prices and mortgage rates.
Here are some other trends that will impact the homebuilding business this year:
Products and practices that improve worker health and safety – OSHA’s tough new regulations on respirable crystalline silica may cause some builders to look for alternatives to products like fiber cement siding. LP® SmartSide® Trim & Siding products are a great replacement for fiber cement siding because they do not use silica or silica-based products as a raw material and are not subject to OSHA’s new regulations.
More products designed for easy installation – Due to the ongoing shortage of skilled labor, products need to be easy for entry-level workers to install. For example, there’s a shift away from installing shaft wall liner in favor of U350 wall assemblies (featuring LP® FlameBlock® Sheathing) that are faster and easier to install.
The push for partnerships – At the recent Hanley Wood HIVE conference, AOL co-founder Steve Case encouraged the construction industry to find new synergies from partnerships and alliances. A good example would be how LP leveraged Gorilla Glue Technology® in engineering LP® Legacy® Premium Sub-Flooring.
As we begin the new year, the mortgage market is stable, and the vast majority of metropolitan housing markets are faring well (324 in positive territory, with just 7 negative nationwide). The stage is set for stability and growth in 2018, but every year brings unexpected developments. Thanks to LP product innovation, you'll have high-performance solutions to meet any challenge ahead.
Resiliency Solutions
5 minThere are several insulation methods based on attic design, but ducts placed over the bottom of truss chords and buried under insulation in a vented attic is a popular builder option.
Continue ReadingSustainability Solutions
8 minEvery jobsite has a ton of moving parts, from product shipments, supplies, and schedules to subcontractors and homeowners. It's no wonder that many project teams can struggle to maintain quality jobsite communication and collaboration throughout the building process.
Sustainability Solutions
6 minIn an era where environmental responsibility is paramount, we are proud to announce a remarkable achievement: the LP® Structural Solutions portfolio has been officially designated as carbon negative. This milestone is a testament to our unwavering commitment to redefining construction materials for the better with a focus on sustainability, resiliency and groundbreaking advancements.
Sustainability Solutions
8 minIn our pursuit of sustainable and environmentally friendly products, we completed five LCAs and EPDs for our LP® Structural Solutions portfolio. Along with LP® SmartSide® Trim & Siding, these EPDs demonstrate the carbon negativity of our products. That means that our products store more carbon than is released during their entire life cycle, making us a meaningful part of the climate solution.