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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.

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News & Stories4 min

Boreal Forest Gets Unprecedented Conservation Agreement by Ducks Unlimited Canada and LP Building Solutions

Performance is written into everything we do at LP Building Solutions. This goes beyond the way our team members do their jobs, how we manufacture our products and the drive to deliver building solutions. We also watch, measure and steward our environmental performance. Sustainable sourcing and energy efficiency are just two ways we act as stewards of our environmental performance, but recently Ducks Unlimited Canada (DUC) and LP signed a landmark conservation agreement to support 6,2 million acres in Manitoba's boreal forest. This agreement is the culmination of an 18-year partnership between the two organizations that was jointly released in January 2020.

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Business Advice4 min
Predictions for 2020 from LP Execs

The homebuilding industry is always changing, thanks to housing trends, shifts in buyer preferences, new technologies and even finance options. We recently sat down with Brad Southern, CEO of LP Building Solutions, and Mike Sims, LP's SVP of Marketing and Business Development, to discuss the latest industry developments.

Industry Trends3 min
Why Key Strategies for Reducing Labor Time May Be Backfiring

Many construction companies and remodelers have been sorely challenged by the shortage of skilled laborers. As more companies struggle to find good workers and juggle projects, many are thirsty for strategies that promise to trim time.

Business Advice4 min
Why Remodelers Should Switch to LP® SmartSide® Trim & Siding

Are you considering switching to LP® SmartSide® Trim & Siding? Many remodelers and installers are anxious about switching to a new product-even when they know, in their gut, that it's the right move. If you're worried about change, here are four questions to ask yourself: What are the advantages of the product? How quickly can I get my team trained? How will the change benefit my company and reputation? What is the availability of the products?