Orleans Homes CEO says homebuilders must reinvent themselves, adapt to 'new normal' to survive until strong market levels return
November 3, 2011
– Orleans Homes CEO George E. Casey, Jr., told attendees at last week’s Urban Land Institute Annual Fall Meeting in Los Angeles that the housing downturn has given homebuilders an opportunity to reinvent themselves.
Chairing a panel entitled “Not Standing Still: What Builders are Actually Changing to Meet the New Reality,” Casey said builders need to accept the current level of new, for-sale home activity as the “new normal” for a while.
“Builders won’t make money doing things the way they used to,” he said. “At least there’s a business, even at current levels of activity. Homebuilders must figure out how to make money in this new environment. It is not impossible to do, but it will take a level of innovation and out-of-the-box thinking that is normally more associated with start-up tech companies than with homebuilders of the past. Those who do figure it out will be best positioned to prosper when a more robust market does return – and make no mistake, it will return.”
Casey has focused Orleans on four pillars that he says are crucial to being a successful builder in the 21st century:
About Orleans Homebuilders, Inc.
Founded in 1918, Orleans Homes is one of the oldest, continually operated homebuilders in the United States. It is committed to building thoughtfully designed homes and creating unique neighborhoods that cater to the way people live today.
The company builds single-family homes, townhouses, and condominiums that range in price from the upper $170,000’s - $1.5 million. It is currently operating in 66 neighborhoods in ten distinct markets:
Central and Southern New Jersey
Orange County, NY
Charlotte, Raleigh and Greensboro, NC
Richmond and Tidewater, VA
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