Anyone with good credit and a down payment can get a mortgage. Try again. If you built five homes last month, and you built ten homes this month how much would be the increase.
We add 2 million more immigrants to our population each and every year. That is a LOT!! of people. They all gotta live somewhere.
Do the recent moves to rent govt-financed foreclosures, making the zer0 regime and Big gov now a Big landlord have something to do with this?
That’s actually bad news for home prices. The last thing the housing market needs is a larger inventory.
Don’t forget, this news came from the obama Commerce Department.
Bet they have some really rosy news througout next year.
I invested in housing construction in Nevada 6-7 years ago. Lost every penny. Same with natural gas drilling in the Gulf. I wish I’d never heard of the stock market. I wish I’d bought bank CDs with my hard-earned savings; even at 1% interest I’d be way ahead of where I am now. I’m teaching my niece and nephews to stay out of the stock market—government interference in the market makes it too risky.
I think there’s plenty of demand for rentals. We’re being Euro-ized.
In my neighborhood, a community by D.R. Horton that’s about 5 years old, they’re suddenly building on the dozen or so empty lots in the 150+ development. Don’t know if they suddenly have buyers, but there was no building going on for the last couple of years, so it’s just odd.
Mrs. Prince of Space
Unexpectedly!
Maybe they are building ghost cities, like the Chinese are.
Seems like the economic news lately has been strong enough to suggest we are not going into a double dip recession. At least for the last few weeks, the economic reports seem to be routinely better than expected much of the time.
I have a hunch the unemployment rate is going to start dropping as well. As people begin exhausting their 99 weeks of benefits, they will finally be forced to get jobs - and that is going to lower the rate. Gallup is showing unemployment dropping off fairly significantly, so my guess is we get under 9% when the October numbers come out - maybe as low as 8.8% or so.
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