"Too many houses"
It’s no wonder we have too many houses on the market today. According to the building industry tracker, Hanley Wood Market Intelligence, between 2001 and June of this year 104,000 new homes were built in the capital region. The biggest sales year was 2004 when 17,500 new homes sales were recorded. This year the industry is expected to sell 8,000 new homes.
Do you think that builders have given up on the local market? Not a chance. According to San Diego based Sullivan Group Real Estate Advisors, builders already have another 100,000 houses in the planning stages. It takes years of planning and millions of dollars infested in infrastructure before a new foundation is poured. Many builders are getting a head start on the next boom.
Do you think that builders have given up on the local market? Not a chance. According to San Diego based Sullivan Group Real Estate Advisors, builders already have another 100,000 houses in the planning stages. It takes years of planning and millions of dollars infested in infrastructure before a new foundation is poured. Many builders are getting a head start on the next boom.
posted by Ken Calhoon at 3:30 PM
1 Comments:
"It takes years of planning and millions of dollars infested in infrastructure before a new foundation is poured. Many builders are getting a head start on the next boom."
Yes, the builders have 'infested' our area with way to many homes (unless you're looking ahead to 2020:).
It isn't that builders are getting 'a head start' on the next boom (which will be years away) but that builders have no choice. Like you say, they have so much invested that they either build or fold. I wouldn't put to much stock in the fact that builders are still building!
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