RexTalionis: Why the hell are we still building new homes?
RexTalionis: We have a massive glut of empty new homes and available previously built homes on the market.
RexTalionis: WHY ARE WE STILL BUILDING NEW HOMES?
RexTalionis: Why the hell are we still building new homes? We have a massive glut of empty new homes and available previously built homes on the market. WHY ARE WE STILL BUILDING NEW HOMES?
hurdboy: RexTalionis: Why the hell are we still building new homes?Because you haven't moved to Detroit or Cleveland, yet. And jobs.RexTalionis: We have a massive glut of empty new homes and available previously built homes on the market.Your friendly local RealtorTM will dispute that. Regardless, there's still a year's worth of foreclosure backlog that the banks haven't worked through after they quit forclosing for an entire year.RexTalionis: WHY ARE WE STILL BUILDING NEW HOMES?Because that's the only thing a lot of people are capable of doing.
InmanRoshi: In Austin, we badly need new homes built ASAP. If a house goes on market at 9 am, there will be twelve bids on it by lunch. Asking the sellers to make any modifications or repairs in your proposal will get you promptly laughed at in your face.
jjwars1: Local friendly Realtor here.
jjwars1: Actually, the number of properties on the market is down 15% locally, and prices are going up due to lack of inventory. Supply and demandavailable money...how does it work?
jjwars1: And yes, the robo-signing deal delayed many foreclosures from hitting the market. We will start seeing an increase in supply over the next year as banks finally start releasing inventory. Until then though supply is down, and prices are creeping up. We can't speculate much about the future and prices...hvr to stick with current and prior information.
nmemkha: Here's an idea:Why don't local government raise the property tax and non-occupied corporate owned homes dramatically? Why should we pay all pay in the form of neighborhood blight because banks don't want to sell at a loss?
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