The housing market meltdown — and a new era of tight credit and slow growth — has radically reshaped residential home building. Where the game used to be won or lost based on instinct and speed, it’s now all about crunching the right numbers. ~Jonathan Smoke, Executive Director, Research, Hanley Wood
According to this Housing Intelligence White Paper, the answer begins, surprisingly, on the baseball diamond.
The white paper states that what is needed is a gut check.
Excerpt from White Paper:
At first glance, baseball and home building might not seem to have any rational connections. But on closer inspection, one interesting parallel emerges: both baseball managers and home builders have a long tradition of relying on insider knowledge decision-making by the gut. Both professions have had a tendency to focus on subjective observations at the expense of objective, fact-based data in the heat of a key moment.
In Michael Lewis’ 2003 book Moneyball: The Art of Winning an Unfair Game, the author reveals the trade secrets of one of baseball’s most successful renegades. The book explores how Billy Beane, general manager of the Oakland A’s, uses modern analytical tools to spot underrated talent and assemble a winning team with modest financial resources. In 2002, the A’s won more than 100 regular season games with a paltry $41 million payroll. The New York Yankees, by contrast, spent more than three times that amount in player salaries that same season. Both teams advanced to the playoffs; neither won the World Series. By that measure, Lewis’ book suggests, the A’s got more “bang for the buck.”
Read the entire White Paper here
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