We have lived through the Great Recession and appear at least on the housing scene, to be close to pre- 2007 levels for home prices and new construction. This bodes well for the construction industry and by extension those of us involved in making door hardware and lighting.
We look at housing trends so that we can assess who is buying what. It is useful to know that millenials account for 35% of all purchases and that they are buying homes in the 1,200 s.f. to 1,650 s.f. range and that both younger and older baby boomers are downsizing so they too are looking at smaller houses. Both groups seem to prefer more open spaces and more baby boomers now need a home/office as they are deferring retiring, or at least moving some of their work home.
As a designer of door handles the move to smaller housing may mean fewer Mc Mansions but it may mean more carefully selected door handles chosen specifically and with thoughtfulness to define a particular space. In reality, as a US manufacturer and because we only cast in premium stainless steel and silicon bronze, our work was and still is necessarily “high end”. So even in the heyday of the McMansions our work was more commonly used as the statement piece for the entry door or decorative accompaniment to the guest bedrooms or the master suite. In short I feel the trend towards smaller is a positive one with door hardware being chosen for key areas based on style, durability and with a focus on a eclectic mix of designs.
Sources used by the writer in this post included:
Neil Irwin’s piece: http://www.nytimes.com/2016/08/24/upshot/the-housing-market-is-finally-starting-to-look-healthy.html
And; https://www.nahb.org/en/research/design/housing-trends-for-baby-boomers.aspx
Post written by Anne Lauder