Posted on 08/16/2024 7:50:07 AM PDT by fwdude
The numbers: Construction of new homes fell 6.8% in July compared with the previous month, as builders scaled back new projects.
Housing starts fell to a 1.24 million annual pace from 1.33 million in June, the government said Friday. That’s how many houses would be built over an entire year if construction were to continue at the same rate each month as in July.
The data fell short of Wall Street’s expectations of a 1.34 million pace. All numbers are seasonally adjusted.
Housing starts fell to the lowest level since May 2020. Outside of the pandemic, new-home construction was at its lowest level since March 2019.
(Excerpt) Read more at marketwatch.com ...
In our little town, a developer bought up some farmland at the edge of town. Those cracker boxes he’s building on 1/8 acre plots, if that, start at $336k. That’s more than we paid for our home which is larger and on 1-1/2 acres. Plus the construction of these homes is poor. Lots of façade materials.
When we were first starting out, these homes would’ve been around 95k. Granted that was 35 years ago.
“Fewer homos being built”
Your spell checker is playing games with you.
Does this mean that our economy is a Ponzi or Pyramid Scheme that constantly needs to grow or else die?
What happens when the population starts to collapse due to the fertility crisis?
Is the economy going to depend on the ever-increasing sales of Depends?
“Fixers are hard to come by. All dried up.”
It might be possible to offer construction continuation houses.
Mrs. & Mr. X would buy a finished house. They would then work to finish another house the builder is building. Once they complete that work, the builder would release a lien.
Mrs. & Mr. X would effectively be buying and paying for a shell with plumbing, wiring and unfinished wallboard hung.
A builder might require such buyers take a construction finishing trades course if one of the Xs doesn’t make a living in construction.
41 years ago we built a 4 bedroom house on 2 1/4 acres for 110k. Couldn’t do that today, really have no idea what it would cost, but it would be unaffordable for sure.
Imagine:
Our mom is developing dementia.
We are looking for a couple willing to help her stay at home.
In return for providing her care for each month, we will let the couple stay in her home for four months.
This position would be ideal for a young couple with recently born child where the child’s mom want to stay at home with the child.
You are comparing apples with pineapples.
Reagan was a polished public speaker, proficient at projecting a presidential presence.
Trump is the honey badger of politics.
Stair lifts are incredible inventions to help seniors to stay in their homes.
In the rest of the country there is still a huge demand for smaller single family or semi detached homes. Smaller houses for first time home buyers and for all the BOOMERS that want to downsize. The Boomers own their existing house. If they sell it, they will pay CASH for the new smaller home.
Out here they are called ADU’s with one or two BR’s! Quick permits and sometimes financing.
“Single family home construction is up across the country.”
Informative post. You say a lot.
How does all you say result in the difficultly for many to buy a home? As an aside, how unaffordable is renting now?
What’s the effect of Boomers selling a larger home and buying a smaller one for cash?
I know another problem in some places is that buying a house that’s not many miles from their job is beyond their means.
The 08 banking crisis was not wasted. Banks and investors were suddenly allowed to add rental properties to portfolio.
Welcome back to feudalism.
Who else has cool million in cash for a 3 bed 2 bath?
Somehow this dropped off the radar after the 2010 protests over it.
I can only speak to Hawaii problems.
Specifically the Big island.
We don’t want to live in overcrowded subdivisions.
We don’t want to live in Soviet style apartments
with Soviet style government rules and personal freedom
limitations.
Lastly the USA has lots of land and is unusable because the government owns/controls way too much of it and the government is run by Democrat bureaucrats.
I like to keep people on their toes too.
That’s why I drive around with my left blinker going all the time.
“It’s typos, which I used to be good at catching, but, since my eyes have been going bad, I seem to miss them more often.”
My wife, like me is her eighties, about a year ago started having problems reading with her smart phones and kindles and newspaper.
Our health care organization fits reading glasses to use / in the above situations/uses in one set of glasses.
So we got her an RX adjustable reading glasses like I have.
Now, she reaches for her new reading glasses if she is having problems.
Biden’s plan for building back better still working so the plan for socialism to be excepted.
I use a Chrome book for FR and 95% of my computer usage. I can increase the screen size print several times.
Where I use my new reading glasses is to read from a book with fairly small print.
My neighbor sold last month 3 bd 2 bth 1 car garage on a 6000 square. Ft. Lot 500k
We’re 7 miles from the beach in hollywood Florida
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