Industry Pulse

NHTI Industry Pulse: $40K for a Gym Membership?

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Welcome to a special preview of the New Home Trends Institute’s Industry Pulse Newsletter! This monthly series delves into industry trends, curating a collection of articles to keep you informed. We stay on top of what’s new and handpick the highlights so you don’t have to.

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Equinox’s $40,000 gym membership is more than lunges and lifting. 

Source: Equinox

Equinox just announced a $40,000 annual gym membership that aims to help you live longer and feel better. The “Optimize by Equinox” plan includes over 100 biological lab tests, weekly personal training, nutrition coaching, sleep advice, and monthly massages to promote longevity.  

How does this relate to housing? Communities aren’t going as far as Equinox, but many continue to up their wellness game. Residents at Harvest Green in Richmond, TX, can take up to five free fitness classes a week and get 1-on-1 personal training and nutrition guidance to live their healthiest lives. Amblebrook, a 55+ master plan in Gettysburg, PA, partnered with WellSpan Health to make health screenings, pharmacy services, mind and body programs, and physical training a breeze.  

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Honey, I shrunk the office… and the dining area… and the rest of the house, too. 

Source: Taylor Morrison

Homes are getting pricier and, therefore, smaller. Per Mikaela Arroyo in Yahoo Finance: “It’s entirely affordability driven… We are trying to figure out ways to make it realistic for consumers to purchase the house, and decreasing square footage is one of the ways to get there.” D.R. Horton’s average square footage was 1,980 in the most recent quarter, down -2% YOY. And they’re not the only ones.

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Pickleball is more than a trendy sport; it’s the new dating app. 

Source: Stefano Giovannini / New York Post

Forget swiping right—NYC’s pickleball courts are now the ultimate dating scene for younger generations. Instead of hitting bars or logging onto apps, people are serving up love between points. Unlike tennis, pickleball often has you playing with strangers. Whether you’re seeking a date or just looking to mingle, it’s a great environment for socializing and making friends. Check out how developers like Minto Communities are weaving pickleball into the social fabric of their communities by also incorporating food and beverage.

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Recession or not? The indicators say one thing, Americans say another 

Source: Sarah Grillo / Axios 

Over half of Americans believe the US is currently in a recession. The economy, as measured by GDP, is growing, and the S&P 500 is up. However, the mood is dampened by the cost of living, inflation, and figuring out who to trust for answers.

Our biannual Household Sentiment survey reports that 53% of consumers are pessimistic about the expected trajectory of the US economy over the next year. While this is down slightly from a year ago, it is still double the 26% who are optimistic¹. Are Americans mistaken, as indicated by Axios, or is this a sign of a “silent recession,” as other sources suggest?

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¹ New Home Trends Institute by John Burns Research & Consulting, LLC, March 2024 survey of 1,265 homeowners and renters with a household income of $50,000+ (approximate income prior to retirement for retirees)