Housing Giants - May 9, 2008 - (Page 25)

APPEALING TO IMMIGRANTS AND ETHNIC GROUPS Having bilingual or multilingual salespeople may be a necessity for home builders who want to appeal to the growing demographic of new and recent immigrants. “Today’s ‘linguistically isolated’ households can work, shop and live all by communicating in a language other than English,” Kleber says. They’ll gravitate toward builders that accommodate their linguistic preferences. Hispanics, the largest ethnic group in the nation, have some unique traits that affect home design. Many either house extended families under one roof or have relatives living nearby, Chung says. They tend to practice communal cooking and eating and prepare larger meals than most other ethnic groups, he says. Thus, how kitchen space is allocated is a key concern. “A kitchen that impresses an Hispanic immigrant is going to be a lot different than one that impresses a native-born American,” Chung says. Asian immigrants have similar tastes in home design to native-born Caucasians. One difference is that many South Asians, particularly, want a spiritual room located near the center of the house, Melman says. The key is to continue to follow up on research about immigrant and ethnic groups’ preferences and tailor your approach appropriately. THE GREEN TREND A key characteristic that crosses all demographic groups is an increased green consciousness. A consumer focus on environmentally friendly products is widespread and is particularly evident among generations X and Y. The development of greener homes may be a way to drive new home purchases, as homes that save money on utilities and have a reduced carbon footprint become more appealing. Features such as energy efficient lighting, state-of-the-art air exchangers to minimize mold and allergens, non-toxic paints, carpets, and finishes, and sustainable wood products will carry strong cachet. THE BOTTOM LINE The key principle for home builders over the next couple of decades is to know thy customers better than you ever have. “So much of home building over the past few decades was builder-driven,” Chung says. “In the future, builders that are consumer-driven will be successful.” HG WWW.HOUSINGGIANTS.COM 5.9.08.HOUSING GIANTS 25 http://www.housingzone.com/probuilder/subcommunity/45955/24199.html http://WWW.HOUSINGGIANTS.COM

Table of Contents Feed for the Digital Edition of Housing Giants - May 9, 2008

Housing Giants - May 9, 2008 Contents Viewpoint News and Moves Tech M & A The New Housing Demographics

Housing Giants - May 9, 2008

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