US homebuilding rose in October on a rebound in multifamily housing projects.

U.S. homebuilding rose in October amid a rebound in multifamily housing projects, but construction of single-family homes fell for a second straight month, suggesting the housing market remained mired in weakness as mortgage rates march higher.

Other details of the report published by the Commerce Department on Tuesday were also soft. Building permits declined last month and homebuilding completions were the fewest in a year. Housing starts increased 1.5 percent to a seasonally adjusted annual rate of 1.228 million units last month.

Data for September was revised to show starts dropping to a rate of 1.210 million units instead of the previously reported pace of 1.201 million units.

Building permits slipped 0.6 percent to a rate of 1.263 million units in October. Economists polled by Reuters had forecast housing starts rising to a pace of 1.225 million units last month.

The housing market is being hobbled by rising borrowing costs as well as land and labor shortages, which have led to tight inventories and higher house prices. This is making home buying unaffordable for many workers as wage growth has lagged.

The 30-year fixed mortgage rate is hovering at a seven-year high of 4.94 percent, according to data from mortgage finance agency Freddie Mac. Wages rose 3.1 percent in October from a year ago, trailing house price inflation of about 5.5 percent.

Residential investment contracted in the first nine months of the year and housing is likely to remain a drag on economic growth in the fourth quarter. Economists expect housing activity to remain weak through the first half of 2019.

U.S. financial markets were little moved by Tuesday’s housing starts data.

Single-family homebuilding stalls

Single-family homebuilding, which accounts for the largest share of the housing market, dropped 1.8 percent to a rate of 865,000 units in October after declining in September.

Single-family homebuilding has lost momentum since hitting a pace of 948,000 units last November, which was the strongest in more than 10 years.

A survey on Monday showed confidence among single-family homebuilders dropped to a more than two-year low in November, with builders reporting that “customers are taking a pause due to concerns over rising interest rates and home prices.”

Single-family starts in the South, which accounts for the bulk of homebuilding, fell 4.0 percent last month. Single-family homebuilding jumped 14.8 percent in the Northeast and fell 2.0 percent in the West. Groundbreaking activity on single-family homes dropped 1.6 percent in the Midwest.

Permits to build single-family homes fell 0.6 percent in October to a pace of 849,000 units. These permits remain below the level of single-family starts, suggesting limited scope for a strong pickup in homebuilding.

Starts for the volatile multifamily housing segment surged 10.3 percent to a rate of 363,000 units in October. Permits for the construction of multifamily homes fell 0.5 percent to a pace of 414,000 units.

Tuesday’s data also suggested that housing supply is likely to remain tight in the near term. Homebuilding completions in October fell 3.3 percent to a rate of 1.111 million units, the lowest level since September 2017.

Realtors estimate that housing starts and completion rates need to be in a range of 1.5 million to 1.6 million units per month to plug the inventory gap.

[“source=forbes]

Senior living societies a home away from home for elderly

Kiran Gupta, 62, lived in an old-age home for 5 years before moving to a senior living society, and finds the facilities much better here. Photo: Pradeep Gaur/Mint

Kiran Gupta, 62, lived in an old-age home for 5 years before moving to a senior living society, and finds the facilities much better here. Photo: Pradeep Gaur/Mint

In 2013, Kiran Gupta wound up her business and shifted to an old-age home in Jaipur after her two children got settled. While initially things were okay at the old-age home, over the years the quality of services deteriorated and she found it difficult to stay there. Gupta, now 62, discussed the problem with her daughter, who did some research and zeroed in on a senior living housing society, Utsav Senior Living, in Bhiwadi, Haryana. Gupta, whose husband died 25 years ago, shifted there in August 2018.

“Food quality deteriorated a lot at the old age home, maintenance was low, very little assistance was available and the behaviour of the staff and organisation head was unpleasant. Compared to the old-age home, things are much better here. The facilities, amenities and the overall environment is much healthier,” said Gupta.

Pawan Bagga, 73, shifted to Ashiana Housing’s senior living project Nirmay in Bhiwadi, Haryana in July 2018. “Someone told me about this place, and I discussed the option with my children and we came to check it out. I got very impressed with the friendly and comfortable environment here and decided to live here,” said Bagga. Her husband died eight years ago. She has a son living in Australia, another in Himachal Pradesh and a daughter in Delhi. Bagga doesn’t like to travel too far, but often visits her daughter in Delhi.

Like Gupta and Bagga, more and more Indians are considering staying in senior living societies after retirement.

Read: Monetise physical assets to raise cash in your old age

The demand

Indian families are getting smaller, with children exploring job options in other cities and countries.

Moreover, there is an increase in number of elderly population in India. According to a recent report, Indian Senior Care Industry 2018, by the Confederation of Indian Industry (CII), “In about 30 years from now, the elderly population in India is expected to triple from 104 million in 2011 to 300 million in 2050, accounting for 18% of the total population in 2050.”

Pawan Bagga, 73, liked the friendly and comfortable environment of the senior living community she went to check out and decided to shift. Photo: Pradeep Gaur/Mint

Pawan Bagga, 73, liked the friendly and comfortable environment of the senior living community she went to check out and decided to shift. Photo: Pradeep Gaur/Mint

In this scenario, the senior living real estate industry in India is witnessing a huge demand, which is going to only increase over the years. This points to a significant growth prospect for the industry. “If we look at the present scenario, there are only 20,000 units of senior living available, while the current demand is of around 230,000 units,” said Mohit Nirula, chief executive officer, Columbia Pacific Communities, a developer of retirement communities with close to 1,600 residential units under management in five cities in southern India.

The supply

With demand on the rise, real estate developers are gradually foraying into this mostly untapped segment. The ongoing slowdown in the overall housing market is also leading developers to focus on end-user products, including senior living societies.

Real estate developers such as Tata Housing, Paranjape Schemes, Ashiana Housing, Adani Realty, Silverglades and Brigade already have residential societies targeting seniors. Currently, there are 37 firms into senior living housing, according to the CII report. Apart from established developers, other business groups are also getting into this segment. For instance, Antara Senior Living, Dehradun, is a senior living community by Max India Ltd. “Considering the success of our senior living project in Dehradun and demand in the segment, we are going to launch another senior living housing project in Noida in a couple of months,” said Renuka Dudeja, head of marketing and communications, Antara Senior Living.

[“source=TimeOFIndia”]

Deepika Padukone’s Wedding ‘Chooda’ And ‘Kalire’ Had A Unique Traditional Yet Elegant Touch

Deepika Padukone’s Wedding 'Chooda' And 'Kalire' Had A Unique Traditional Yet Elegant Touch

Those two most important and exciting days came in and went by with the blink of an eye! November 14-15, 2018 saw two beautiful souls become each other’s forever in the presence of limited family members at Lake Como’s Villa Del Balbianello in Italy and ever since, fans have been eagerly waiting to catch a glimpse of the newly-wedded couple. Trust us, never have we been so impatient! (Do Read: Here’s The Cost Of Square-Cut Solitaire Engagement Ring Of Deepika Padukone Gifted By Ranveer Singh)

With fans eagerly waiting to steal a glance at Deepika and Ranveer’s wedding pictures, the newly married ‘Mister and Missus’ took to Instagram and finally posted two beautiful pictures from their Konkani and Punjabi-Sindhi wedding. Captioning the picture with hearts, Deepika and Ranveer looked like a couple who has descended straight from heaven! Here are the pictures in case you missed:

Deepika and Ranveer

Deepika and Ranveer

With Deepika’s huge square-cut solitaire engagement ring almost making us go blind, have you noticed the minimalistic jewellery that Mrs Bhavnani sported and more precisely, her chooda and kalire? The picture that the just-married couple posted from their wedding, made us see Deepika in a never seen avatar with her matha-patti, chooda and kalire on total point! What was extravagant about her suhaagan ki nishaani was the minimalistic yet simple design it came with. Take a closer look of the same here:

 

 

Beautiful, right? Also, as stated earlier by sources, Deepika and Ranveer had ensured full privacy at their wedding. And why wouldn’t they? Have you taken a note of the measures undertaken by the stars to ensure maximum privacy?  As per reports, guests have been provided with special wrist bands which symbolises that they are a part of the guest list. Security guards have sealed the camera lenses of the mobile phones of the guests, lest fearing the leakage of any off-guard pictures. To top it all, numerous security guards have been on constant patrol on the outskirts of the venue. And do you have any idea how much the superstars have shelled out on security purposes? Reportedly, the couple has spent almost Rs 1 crore for security purposes for the week! (Must Read: Ranveer Singh’s Mumbai Residence Stunningly Decorated For Newbie Bride Deepika’s Grih Pravesh)

Deepika and Ranveer

Deepika was all geared-up for her wedding and couldn’t keep calm! In an interview with Rajdeep Sardesai on India Today India Tomorrow she had shared, “I’m excited in the same way as I’m excited about signing my next film. Marriage is something that I’ve always looked forward to in my life, as would any other girl.” Further speaking about her inspiration towards a happy marriage, the Happy New Year star stated, “I’ve seen my parents do it so well and so successfully and I think for me, that’s the way I would like my married life to be as well. My parents have a beautiful relationship. The way they have managed their professional life as well as being together as a family. They have set such amazing benchmarks that both I and my sister (Anisha Padukone) would like to follow.”

Deepika Padukone

Ranveer too, was never weary of praising his lady-love. During the premiere of Deepika’s Hollywood debut of xXx: Return Of Xander Cage, the Befikre star was all praises for his muse and had stated, “She is an extremely gifted actor and an amazing movie star. Somebody whom I admire and I’m extremely proud of her. I am a huge fan of the franchise and it’s very exciting to see her in this instalment.”

Deepika and Ranveer

Ranveer is truly the perfect guy for Deepika. A source revealed to Huffington post some interesting behind-the-scene moments of the couple. It was revealed that Deepika and Ranveer would make every possible attempt to be with each other when work kept them apart. Also, the Dil Dhadakne Do star would stay on the sets of Bajirao Mastani, waiting for Deepika even when his shot got over! The source revealed, “He’s always giving her cues even when he doesn’t have to. It almost feels that for him, her career is more important than his. He was one of the first few people to tell her that she needs to go to Hollywood. He’s starry-eyed when she’s around.” And that truly doesn’t go unnoticed!

[“source=TimeOFIndia”]

Senior living societies a home away from home for elderly

Kiran Gupta, 62, lived in an old-age home for 5 years before moving to a senior living society, and finds the facilities much better here. Photo: Pradeep Gaur/Mint

Kiran Gupta, 62, lived in an old-age home for 5 years before moving to a senior living society, and finds the facilities much better here. Photo: Pradeep Gaur/Mint

In 2013, Kiran Gupta wound up her business and shifted to an old-age home in Jaipur after her two children got settled. While initially things were okay at the old-age home, over the years the quality of services deteriorated and she found it difficult to stay there. Gupta, now 62, discussed the problem with her daughter, who did some research and zeroed in on a senior living housing society, Utsav Senior Living, in Bhiwadi, Haryana. Gupta, whose husband died 25 years ago, shifted there in August 2018.

“Food quality deteriorated a lot at the old age home, maintenance was low, very little assistance was available and the behaviour of the staff and organisation head was unpleasant. Compared to the old-age home, things are much better here. The facilities, amenities and the overall environment is much healthier,” said Gupta.

Pawan Bagga, 73, shifted to Ashiana Housing’s senior living project Nirmay in Bhiwadi, Haryana in July 2018. “Someone told me about this place, and I discussed the option with my children and we came to check it out. I got very impressed with the friendly and comfortable environment here and decided to live here,” said Bagga. Her husband died eight years ago. She has a son living in Australia, another in Himachal Pradesh and a daughter in Delhi. Bagga doesn’t like to travel too far, but often visits her daughter in Delhi.

Like Gupta and Bagga, more and more Indians are considering staying in senior living societies after retirement.

 

Indian families are getting smaller, with children exploring job options in other cities and countries.

Moreover, there is an increase in number of elderly population in India. According to a recent report, Indian Senior Care Industry 2018, by the Confederation of Indian Industry (CII), “In about 30 years from now, the elderly population in India is expected to triple from 104 million in 2011 to 300 million in 2050, accounting for 18% of the total population in 2050.”

Pawan Bagga, 73, liked the friendly and comfortable environment of the senior living community she went to check out and decided to shift. Photo: Pradeep Gaur/Mint

Pawan Bagga, 73, liked the friendly and comfortable environment of the senior living community she went to check out and decided to shift. Photo: Pradeep Gaur/Mint

In this scenario, the senior living real estate industry in India is witnessing a huge demand, which is going to only increase over the years. This points to a significant growth prospect for the industry. “If we look at the present scenario, there are only 20,000 units of senior living available, while the current demand is of around 230,000 units,” said Mohit Nirula, chief executive officer, Columbia Pacific Communities, a developer of retirement communities with close to 1,600 residential units under management in five cities in southern India.

[“source=indianexpress”]