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Renovations are outpacing new builds, a metaverse interior design award and more

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In this week’s design, dumb waiter new series on Netflix watcher viewers began searching for mini elevators online. Stay up to date with our weekly roundup of headlines, launches, events, recommended reading and more.

business news
September marked the eighth straight month of decline in US existing home sales. wall street journal report, the longest streak in 15 years. Home sales fell sharply after the pandemic boom as the Federal Reserve tried to keep inflation in check by raising interest rates (he pushed mortgage rates to 6.94% this week). . Except for the early months of the pandemic (when home sales temporarily stagnated), the existing home sales rate in September was his lowest since 2012. It fell along with a decline in spending on lumber and plumbing.

In related news, many homebuilders entered the current market downturn with more precautions than the 2008 subprime mortgage crisis that wiped out about half of all homebuilders. doing. wall street journal reportBuilders are again seeing a sharp drop in buyers (one firm said a year ago it had 639 eligible buyers wanting homes in its development, but today there are 639). (That list has dwindled to just 30 people.) In recent years, industry analysts say companies have taken a more conservative approach to debt and land acquisitions, reserving space for real estate only when demand is needed. You have chosen an arrangement that gives you the option to buy. Some have turned to the rental market to generate income from unsold single-family homes, while others have sold bulk developments to investors at discounted prices for the same use. As a result, experts say the oversupply of new homes is not as dramatic as it was before the 2008 housing crisis, and the sudden oversupply of homes has pushed property prices down across the board.

Retrofitting is progressing in the United States, bloomberg reportAccording to a recent analysis by the American Institute of Architects, as of spring 2022, the majority of new construction firm services will come from renovations rather than new construction, with renovations overtaking new construction for the first time in 20 years. This trend has steadily increased since 2017, when renovations accounted for 44.4% of invoices compared to 52% this year. The study also found that building billings for residential construction have increased sharply this year, jumping from 17.5% in 2020 to 28% in 2022.

new research from US News & World Report explores the concerns weighing heavily on the minds of U.S. homebuyers today, with 74% of those surveyed citing the impact of climate change and natural disasters on their homes as their top concerns. I found The survey, conducted among 2,000 U.S. residents who purchased a home in 2021 or 2022, found that more than three in four cited inflation as a barrier to home repair or renovation plans, and three More than one person said supply chain issues were also causing the impact. Overall, 69% of recent homebuyers admit to having buyer regrets, and 36% are worried about whether or not they will eventually be able to sell their home.

Museums around the world have experienced numerous attacks on their masterpieces as climate change activists began throwing food and liquids at them to draw attention to environmental issues. As Artnet reports, the incident occurred at the Barberini Museum in Potsdam, Germany. There, activists from a group called the Letzte Generation threw mashed potatoes at Claude Monet’s paintings. At the National Gallery in London, members of an organization called Just Stop Oil put Vincent van Gogh’s sunflowers in his tomato soup. In the group’s latest move, protesters smashed his chocolate cake into a wax figure of Charles III at London’s Madame Tussauds. The request is simple. Just stop new oil and gas. That’s easy. “

Made, a London-based online home goods and furniture retailer, has called off talks about a potential sale after the parties involved failed to meet the required timeline. market watch report— which caused the stock to plummet 61%. The news follows last week’s announcement that the company has received a number of non-binding offers for sale and has selected several to move forward towards a firm offer. Now, if neither a funding nor a firm offer is made before the cash reserves are exhausted, Made says the board will take steps to “preserve creditor value.”

Release and collaboration
In honor of Diwali, the five-day Indian festival held in anticipation of the New Year, designer Runa Gill has teamed up with IKEA to develop a new line of products inspired by the annual celebration. The collection, titled Aromatisk, includes table her runners, candle holders, luncheon her mats and seat her cushions, available in vibrant colors and patterns reminiscent of the colorful activities surrounding the festival each year. .

Frances Merrill, founder of Los Angeles-based interior design studio Reath Design, has curated a selection of her favorite items for private auction house Bonhams in anticipation of LA’s upcoming modern design and art auction. Works range from colorful floral vases by French artist Emile Gallé to a bespoke set of eight bright green chairs by cabinetmaker and architect Roy McMakin.

14th Annual Home for the Holidays Designer ShowhouseCourtesy of Atlanta Homes & Lifestyle

show house

Atlanta Homes & Lifestyle The magazine has announced its 14th annual Home for the Holidays Designer Showhouse and Marketplace, which runs from November 17th to December 11th. At the event, his 10,505-square-foot home in Atlanta’s Randall Mill neighborhood will be reimagined by the group. Designers include Tavia Forbes and Monet Masters of Forbes Masters, Lauren DeLoach of Lauren DeLoach Interiors, Evan Millard of Millard and Amber Guyton of Blessed Little Bungalow. Proceeds from Showhouse will be donated to Atlanta’s Children’s Healthcare organization.

recommended reading
Scandinavian design represents what functional, minimalist and tasteful home decor is all about for most consumers in the US.As Nate Berg writes first company, a well-orchestrated marketing scheme may have been one of the biggest impetus. It dates back to They used stereotypical Americans to try to capitalize on the growing demand for household goods in the United States. About the Scandinavian way of life.

RH make yourself stand out By incorporating premium materials such as white oak and Italian travertine, along with custom-made tables, chairs, and lighting fixtures, to enhance the design of your eatery, you’ll be able to get more value from other home retailers with on-site restaurants. As Priya Krishna writes new york timesoften it’s the highly tuned aesthetics that keep customers coming back, not the food or perhaps the service.

According to a new report from online marketplace HomeAdvisor, a majority of today’s consumers agree that it’s what’s inside that counts when it comes to buying a home. He 76% of respondents agreed to buy a house that looks ugly and looks perfect. inside. As Alina Dizik writes wall street journalthe statistic concerns the fact that since the start of the pandemic, homebuyers have shifted their focus to interior spaces, making the everyday experience inside a home more important than its curb appeal.

applause

building records has announced the winners of its 9th Annual Women in Architecture Awards. The Design Her Leader Award for this program went to her Carol Ross Barney, the lead of the Chicago-based firm Ross Barney Architects. Next Generation Leader Award to Jing Liu of Brooklyn-based practice So-Il. Educator Award to Howard University Professor Hazel Edwards. Activist Award to Monica Rose, leader of her HOPE (Hands-On Preservation Experience) Crew for the National Trust for Historic Preservation. The Innovator Award went to John Sarah Ruth and Alison Mears, directors of her Healthy Materials Lab at the Parsons School of Design.

The American Home Furnishing Hall of Fame has announced its 2022 Hall of Fame inductees. Newest members of the program include Michael Amini, Chairman and CEO of AICO/Amini Innovation Corp. Michael K. Dugan, former president and CEO of Henledon Furniture. Room & Board founder John Gabert. Neil Goldberg, Chairman and CEO of Raymour & Flanigan Furniture.Stephen K. Pond, Founder furniture of the day.

WithIt, a women’s leadership development network for the home and furniture industry, has announced the winners of its 2022 WOW Awards. Winners include her JoAnne Staltari-Wiley for her JB Hunt Final Mile at the Mentoring Awards. Shannon Williams, Home Furnishings Association for the Future Leader Award. Amy Vernon of La-Z-Boy Incorporated receives Leadership Award. Caprice Crawford of the Home Furnishing Association for Education Award. Sales Excellence Award went to Jynné Harris of Kreber.

The Education Foundation of the International Furniture and Design Association has announced the five Professional Grant Winners for 2022. This year’s winners explore subjects ranging from intelligent city creation to holistic healthcare design, along with wholesale antiques and historic preservation. Winners include Saman Jamshidi, Assistant Professor of Interiors and Design at the University of Nevada, Las Vegas. Christine Wacta, Georgia Assistant Professor of Behavioral and Social Sciences, Department of Human Ecology, Georgia Her Southern University. She is Luke Kwan, her senior project manager at IA Interior Architects. Beth Miller, professor at Mississippi State University and director of the Department of Interior Design and Master’s Program in Historic Preservation. Kane Wilk of the IFDA New York Chapter.

Call for entries

interior design The magazine has partnered with Toronto-based digital design marketing firm Digby to launch the first-ever Metaverse Architecture and Design (MAD) Awards honoring design professionals and projects working in the Web3 space. The award program includes categories such as Designer of the Future, Unbuild Project, Build Project, Metaverse Destination, Immersive Digital Art, Special Award Student of the Future, and the winner will be announced at his MAD Awards Ceremony at Spatial. be commended. io metaverse — Platform for cultural events and experiences in virtual worlds. Click here to submit by the December 21, 2022 deadline. here.

Homepage image: Ikea Aromatisk collection of colorful table runners, candle holders, place mats and seat cushions | Courtesy of IKEA

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