Latest news with #JimWood
Yahoo
09-07-2025
- Business
- Yahoo
Here's how expensive Utah's housing market is compared to the rest of the U.S.
Utah remained one of the country's most expensive housing markets last year even though prices barely budged, according to a new report from the University of Utah's Kem C. Gardner Policy Institute, which was released Tuesday. The 2024-2025 edition of the Gardner Institute's 'State of the State's Housing Market' report found Utah was the nation's ninth costliest housing market last year, citing 'high but stable' prices as characterizing the state's housing market last year. Despite home prices rising less than 1% since 2022, the high cost is seen as continuing to put home ownership out of reach for many Utahns. Housing affordability is a priority for Gov. Spencer Cox and other state leaders. 'Utah housing prices and rents showed little-to-no growth in 2024,' Jim Wood, the lead author of the report, said in a statement. 'Home sales and listings increased, and residential construction declined as apartment developments tumbled.' Wood, the Ivory-Boyer Senior Fellow at the Gardner Institute, said 'slower economic growth presented challenges for Utah's homebuilding and real estate industries but helped to dampen price increases for potential homebuyers.' But Utah's median single-family home sales price of $547,700 trailed what residents are paying in only eight other states in National Association of Realtors data from the fourth quarter of 2024, the report pointed out. Here's where that home is even more expensive than Utah: Hawaii, $1,012,500 California, $881,800 Washington, D.C., $769,300 Massachusetts, $676,100 Washington, $669,400 Colorado, $613,200 New York, $562,400 Oregon, $561,300 Utah, the Gardner Institute noted, has steadily climbed in the rankings. Back in 1970, the Beehive State was the 20th most expensive place to buy a house. By 2000, Utah had hit No. 14. In 2022, housing prices hit an all-time high of $510,000, up 44% from 2020. Other key findings from the Gardner Institute research: Homes are 'seriously to severely unaffordable' in five large counties, as measured by dividing the median sales price by median household income. Washington and Salt Lake counties are considered severely unaffordable with ratios above 5.1, while Weber, Davis and Utah counties are seriously unaffordable, with ratios between 4.1 and 5.0. Rents were also stable in 2024, even declining in some markets. In Salt Lake County, the average rent rose from $1,582 in 2023 to $1,593 in 2024, less than a 1% increase. More high-density housing was sold than ever, with the sale of condominiums, townhomes and twin homes accounting for 28% of all residential sales and 28% of residential construction in 2024. The $409,900 median sales price of a condo statewide in 2024 was 27% less than a single-family home. The most building permits for residential units, 1,556, were issued in Eagle Mountain. Next was Saratoga Springs, with permits for 1,354 units. Combined with the 1,036 units permitted by the fifth-ranked city, Lehi, the three northern Utah County cities accounted for 18% of all Utah residential building permits in 2024. At the same time, less than 22,000 residential units overall received building permits in 2024. That's the lowest level since 2016, but 90% of the drop was attributed to a decline in apartment development, with permits for apartment units down to 4,801 in 2024 from 7,622 a year earlier. Average monthly listings are back to pre-COVID-19 levels, 8,000 to 9,000. Cash buyers bought 6,724 homes in Utah last year, nearly 18% of all homes sold in the state. There were 7% more homes sold in Utah in 2024, a total of 37,641. So what's the forecast for the Utah housing market? 'Economic uncertainty and slower rates of demographic and economic growth will lessen housing demand in 2025,' the Gardner Institute said, with residential construction, existing home sales, housing prices and mortgage rates largely staying at the same levels as 2024. That translates this year to Utah seeing approximately 23,000 new residential units built, 36,900 existing homes sold, the median sales price of a home going up 2%, and mortgage rates staying between 6% and 7%.
Yahoo
27-06-2025
- Business
- Yahoo
CEO of solar company pleads with senator to protect American manufacturing jobs: 'We are not asking for handouts'
The president and CEO of SEG Solar Inc. wrote an open letter to his senator advocating for American solar manufacturing jobs. The CEO, Jim Wood, employs nearly 300 workers and calls on lawmakers to support domestic solar jobs while securing future power and reducing foreign energy reliance. EnergySage, a premier source of objective, independent solar industry expertise, shared that thousands of manufacturing jobs will disappear if Congress eliminates tax credits fueling clean energy progress. EnergySage helps people get quick solar estimates and compare installer quotes for the best deals. According to EnergySage, Jim Wood is a North Carolina resident who is deeply concerned about how solar tax credit cuts would impact his employees, business, community, and clean energy goals. SEG Solar manufactures solar models for American energy projects in the U.S. In his letter to North Carolina Senator Thom Tillis, Wood wrote, "Our work aligns directly with the administration's stated goals. We're not asking for handouts — we're asking for a level playing field and consistent support for the American workers, companies, and communities building our energy future here at home." Wood asked his senator to stand with solar jobs and local workers to support clean energy policies that promote energy independence rather than a reliance on foreign competitors. Tillis, for his part, signed a letter with four other Republican senators in April seeking to preserve clean energy provisions, but as of reporting this week, it is unclear if the senator or others will follow through on fighting to preserve them as the "Big Beautiful Bill" goes through the Senate. Installing solar panels on your home is one of the most effective ways to save money on utility bills while reducing planet-overheating pollution. Solar energy jobs boost local economies and facilitate the transition toward clean, affordable energy for everyone. Government investments in solar manufacturing help keep jobs in America and make the U.S. more self-sufficient in its energy production. These jobs help people support their families and encourage communities to limit pollution for a less toxic, more breathable environment. EnergySage offers free services to compare trusted solar installation quotes and save up to $10,000 on upfront investments. It has a useful mapping tool that shows the average cost of home solar systems in each state to get the best deal on your solar upgrade. What is stopping you from upgrading to a heat pump system? The cost of installation I live in a cold area I don't know enough about it I already have one Click your choice to see results and speak your mind. The tax incentives CEO Jim Wood referenced in his letter may not be available for much longer, as Congress has indicated it may eliminate the solar tax credit by the end of the year. Therefore, taking advantage of all available incentives before the end of 2025 is advisable for the best opportunity to get the 30% federal tax credit and potentially save thousands of dollars. Like Jim Wood, you, too, can write letters to your elected officials to advocate for keeping solar tax credits. In its article, EnergySage suggested a list of influential representatives to reach out to if you care about domestic solar jobs and the clean energy transition in America. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Yahoo
27-05-2025
- General
- Yahoo
Sidney celebrates Memorial Day with a blast from the past
SIDNEY, Ill. (WCIA) — Memorial Day events kicked off this weekend — with people remembering those who gave their lives serving the country. In Central Illinois, a crowd of people took time to honor those who made the ultimate sacrifice at Mt. Hope cemetery in Sidney. Cars pulled up peacefully — a solemn silence before the Memorial Day event began in Sidney. The village's American Legion Post organized the event, placed flags on the grounds and performed as the color guard. Annual Memorial Day ceremony held in Danville 'It's an honor to come up to see all these other veterans that are still alive,' Michael Shepard said. Shepard served more than three years for the U.S. Coast Guard patrolling the Mississippi River. He joined the honor guard three year ago when he moved to Sidney. Shepard — one of many — was moved on this emotional day. The ceremony featured the National Anthem, speeches and a blast from the past. Jim Wood brings his Civil War era cannon every year to be shot in honor of specific veterans, like one he has a personal connection to. Danville AMBUCS selects 92nd First Citizen 'One is my buddy that was in Vietnam and got killed,' Wood said. 'We went to school together and he was from Sidney here. In fact, he lived just across the river here.' Four shots were fired, including one by WCIA's own Brandon Merano. 'Makes me proud. Makes me sad, but it makes me proud,' Wood said. 'I get reverent really. Because when you're around that, it makes you want to honor people.' Other celebrations in Champaign County included Grandview Memorial Gardens. Woodlawn Cemetery also held one in Urbana — and there was a wreath laying ceremony at Savoy Veterans Memorial. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
