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homestead - Re: [Homestead] I found a house

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  • From: Clansgian AT wmconnect.com
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] I found a house
  • Date: Thu, 6 Mar 2008 10:53:15 EST



> 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>




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