By Dianne M. Pogoda

Company News

KOHLER, GE IN VENTURE: Kohler Co. has partnered with the Monogram and Café brands, part of the GE Appliances family, in a design collaboration which will introduce complementary finishes and customization with appliance hardware designed to go together for a fully coordinated look. The appliances will also offer finishes that go with specific Kohler fixtures. Learn more at KBB.

CABICO ADDS NEW FINISHES: Custom cabinet manufacturer Cabico has introduced an array of stains and finishes to its latest collection, “Striking Nuances.” The launch includes nine new finishes in its Unique cabinet series, which includes hickory, alder, red and white oak, cherry, maple and walnut cabinets and four more finishes in its Essence red oak cabinets. The new finishes are inspired by nature and natural wood tones. More here.

NEW 48-IN. FRIDGE FOR SKS: Luxury appliance maker Signature Kitchen Suite unveiled a 48-inch French door refrigerator with a full metal interior, dual compressors, adjustable lighting and Lift and GoTM drawers and bins at KBIS. The model is Energy Star-certified and includes a convertible drawer with five preset temperature settings ranging from 41˚ F to -7˚ F, a dual ice-maker drawer offering two shapes of ice and Wi-Fi to connect to the ThinQ smartphone app. SKS also introduced its PowerSteam® dishwasher and several new cooking appliances at the expo. See more here.

GOING BOTH WAYS: Richelieu introduced a concealed two-way drawer hardware system called Riverso, which can be opened from either side of an island or peninsula, allowing the exchange of items between rooms via a single drawer. The system saves steps around an island, reduces unnecessary movement and improves a room’s flow by allowing the same drawer to open in opposite directions. Riverso features a synchronized full-extension rail, excellent running properties and a 46-kg load capacity (about 100 pounds). A damped closing mechanism facilitates a one-sided push-to-open feature for handle-free fronts. Learn more about Riverso here.

PEOPLE NEWS

POGGENPOHL TAPS LOEWE: Premium cabinetry maker Poggenpohl U.S. has named Sven Loewe chief operating officer, reporting to Marcia Speer, president of the American operation. Loewe previously served in executive roles at Blanco North America, SieMatic, Hettich and Hansgrohe. Learn more.

INDUSTRY NEWS

TRADES NEED WOMEN: The severe skilled laborer shortage that has plagued the industry for two decades and continues to cause delays in project fulfillment and drive up labor costs is exacerbated by an aging workforce and increased need for residential construction. Women, who make up just 11 percent of the overall construction workforce, could be the answer to the shortage. Businesses, organizations and women-focused training programs are beginning to step up and inform school-age girls and women seeking career options that skilled trades offer lucrative opportunities. ProRemodeler explores the issue.

TRADE EVENTS

FLOORING FAIR IN PACIFIC NORTHWEST: Innovation From the Floor Up,” a market expo run by the Flooring Association Northwest, will take place on March 8, from 11 a.m. to 7 p.m., at the Hilton Bellevue, 300 112th Avenue SE in Bellevue, WA. More than 60 vendors will showcase their latest products, offer special show pricing, discuss what the future holds for flooring innovations and more. Registration is free. For more details, go here.

CHAPTER NEWS

NOCAL DESIGN SYMPOSIUM: The Northern California Chapter is hosting its annual Student Design Symposium online on March 17, 9 a.m. to 12:30 p.m. The symposium was developed to support and serve current students in interior design and architecture programs in Northern California. Ebony Stephenson, CLIPP, CAPS, owner of Designs By Ebony in Newport News, VA, and president of NKBA’s Virginia State Chapter, will deliver a keynote speech. Following the keynote, breakout sessions will discuss topics including design apps, design partnerships, biophilia in bathroom design, cultivating a professional image and how electric appliances help battle climate change. Registration is $10. For more info and to register, go here.

By Manuel Gutierrez, Consulting Economist to NKBA

The homeownership rate — the percentage of U.S. households who own their home — hit a decade high of 66 percent in the first quarter of this year. This marked an increase of over half a percentage point compared to the same quarter a year earlier, and a 0.6 points increase from the homeownership rate of 65.4 percent in Q1 of last year. The homeownership rate increase seen over the last year resulted in an additional 1.8 million households becoming homeowners. Homeowners who, in the near future, will spend additional dollars on remodeling their homes.

• Compared to the previous quarter, the homeownership rate increased by 0.1 percentage points overall, but it fell in two age groups. Households of 45 to 54 years saw the biggest decline, with their rate falling to 70.1 percent, a half point drop from the previous quarter. And over 64 years households saw a drop of two-tenths of a point to 78.8 percent.
• Among racial and ethnic groups, Asian households saw the biggest gains, with their homeownership rate rising by 2.5 percentage points from the previous year to 61.6 percent. This rate was the second-highest among all groups, lower only than the White households’ rate of 74.5 percent. Black households also gained from last year, up by 1.8 points. However, they still had the lowest rate at 45.8 percent. Hispanic-headed households saw an increase of 0.8 points, bringing their rate up to 49.7 percent.
• Regionally, the Midwest had the highest homeownership rate, increasing by 0.3 percentage points from a year earlier to 70.3 percent. Second highest was the South with 67.3 percent, down by 0.1 points compared to the previous year, followed by the Northeast, up by 0.9 points to 62.7 percent. Finally, even though the West saw the biggest increase, rising by 1.7 points to a rate of 61.9 percent, it remained the lowest in the nation — and nearly 5 points lower than the U.S. average of 66.0 percent.
• There were only 662 thousand homeowner vacant homes available for sale, making the vacancy rate just 0.8 percent — marking the lowest rate since the mid-60s when these data first became available. The number of vacant for rent units stood at 3.0 million, a 5.8 percent vacancy rate. Although not the lowest historical vacancy rate, it was 1.5 percentage points lower than the long-term average of 7.3 percent.