i hear there is 5 million vacant new homes currently and the price of a home this year is 100.000$ less on average than it was last year and that 3 million of those are foreclosures and the other 2 million owned by the builder investors.
can anybody verify and what do you predict as the future trends?
I know a friend of mine who works construction in Phoenix mentioned that there are whole neighborhoods sitting vacant there, because the developers overspeculated. They're like little ghost towns.
Anyone know what those gridded neighborhoods are when you fly cross country? They are in the desert (Arizona or New Mexico?). They aren't the survey grids, but smaller. They appear to be the vestiges of failed neighborhoods in the middle of nowhere. Usually there are couple houses.
My friend started to buy up some land in Mexico, and was going to sell it at his cost to his friends and family... not for a commune, but to live in a community of like-minded individuals.
but like any rich eccentric, i'm pretty sure that fell through when he lost interest and came back to canada.
to answer your first question - there is no doubt that parts of the country are having some real slowdown (miami high rise condos, some areas of the southwest and northeast), but if you're asking if there are these kinds of trends widespread, then probably no. certainly there is no national average which says housing prices are 100k less than a year ago. maybe some select houses that were way overvalued to begin with, but not as a general trend.
yes, some developers and builders (especially the big ones who have a lot of overpriced inventory) are hurting, but home resales are doing ok. good product will always move. what's lagging now is the crap thrown up on the tail end of the boom that people were tending to speculate on.
May 28, 07 4:22 pm ·
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Standing Product and Prices 5M. 100K-
i hear there is 5 million vacant new homes currently and the price of a home this year is 100.000$ less on average than it was last year and that 3 million of those are foreclosures and the other 2 million owned by the builder investors.
can anybody verify and what do you predict as the future trends?
I know a friend of mine who works construction in Phoenix mentioned that there are whole neighborhoods sitting vacant there, because the developers overspeculated. They're like little ghost towns.
isnt Phoenix sort of a ghost town anyways...
you mean we could start our own little archinect village - perhaps this is archinect 3.0 that the big green floating head keeps referring
Anyone know what those gridded neighborhoods are when you fly cross country? They are in the desert (Arizona or New Mexico?). They aren't the survey grids, but smaller. They appear to be the vestiges of failed neighborhoods in the middle of nowhere. Usually there are couple houses.
My friend started to buy up some land in Mexico, and was going to sell it at his cost to his friends and family... not for a commune, but to live in a community of like-minded individuals.
but like any rich eccentric, i'm pretty sure that fell through when he lost interest and came back to canada.
When I see those things I think "What's that word? Monorail!"
i just got back from Arcosanti that was going good and i met Palo Solari.
the Poetry slam was amazing and my team won. :D
i have a 80 acre piece of land that i am moving on with some huge solar style. of course no authoritarians welcome.
transition towns , intentional communities
oh and it's on the continental divide
jonas,
to answer your first question - there is no doubt that parts of the country are having some real slowdown (miami high rise condos, some areas of the southwest and northeast), but if you're asking if there are these kinds of trends widespread, then probably no. certainly there is no national average which says housing prices are 100k less than a year ago. maybe some select houses that were way overvalued to begin with, but not as a general trend.
yes, some developers and builders (especially the big ones who have a lot of overpriced inventory) are hurting, but home resales are doing ok. good product will always move. what's lagging now is the crap thrown up on the tail end of the boom that people were tending to speculate on.
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