[Homestead] I found a house

Clansgian at wmconnect.com Clansgian at wmconnect.com
Thu Mar 6 10:53:15 EST 2008



> Prices advertised on the direction signs stated  
> "starting in the 150s." I figured it would be a couple years more  
> before even those low-end builders would reenter the game. Never say  
> never.
> 

It's a well published and documented phenomeon that developers who bought 
land at inflated prices on spec have found that they can build on the land even 
in a glutted market and lose less money than if they were to default on their 
options on the land.  That explains why in an area the housing watchers refer 
to as the "epicenter of the housing crash" (that would be Phoenix) houses 
continue to go up although the market is saturated.

The blurb this morning was that in Phoenix half of the houses on the market 
are unoccupied , and as someone savvy on real eatate you know what that 
portents.  One source for the stats is:    http://housingdoom.com     Look at the 
thrid and fourth articles from the top.

So I'd still put the odds on "never".   </HTML>


More information about the Homestead mailing list