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We did look at established neighborhoods and found several houses we liked. Owners wouldn't budge a bit. They are still on the market now and its been a year...
My prediction is that supply and demand will eventually take over and new construction will be significantly more expensive per sq ft than pre-existing forcing people to choose between a new home and a larger home. Right now is such a weird time because of the economy being in the toilet, it is a sink or swim time. I believe/hope eventually it will balance out...
My prediction is that supply and demand will eventually take over and new construction will be significantly more expensive per sq ft than pre-existing forcing people to choose between a new home and a larger home. Right now is such a weird time because of the economy being in the toilet, it is a sink or swim time. I believe/hope eventually it will balance out...
There will be no such thing as "supply and demand" in 3 1/2 years from now. Get used to it. It will not "balance out", sorry to say. Prepare yourselfs for a whole new world and a whole new set of rules which if he gets his way will dominate your life.
Sorry for the doom and gloom but do you see something I don't see??
je
There will be no such thing as "supply and demand" in 3 1/2 years from now. Get used to it. It will not "balance out", sorry to say. Prepare yourselfs for a whole new world and a whole new set of rules which if he gets his way will dominate your life.
Sorry for the doom and gloom but do you see something I don't see??
je
No, I don't see something you aren't seeing. I see thousands of people out of work and no jobs to accommodate them. And how many companies are gonna move here in the next six months? PA just ran out of ESC $$$ and is debating whether or not to extend it b/c of its impact on the state budget. There is gonna come a time when NC is in this position as well. The fund was depleted months ago . . . folks are gonna have to realize at some point that the checks are gonna stop. Now if one person is working and the other isn't . . . it may be they will be able to manage for a lot longer. But jobs are not going to suddenly open up here for 40,000 folks. This is simple arithmetic. So what does that mean? People are gonna have to relocate, so more houses on the market. More unsold houses on the market . . . prices go down. That is just the way it is. I am getting tired of folks telling me I am being negative. I am providing insight into the next two years ahead.
If that heinous Cap & Trade bill passes - and Obama is pushing it hard! - there are gonna be a whole new set of rules in place. No one is listening when I keep telling them that one of the provisions in the bill is that Fannie is not longer gonna underwrite mortgages on homes that are not energy certified. And anyone owning a home over 2500 sq. feet has to pay a fee each year. That is gonna cost a lot of people more $$$ . . . and if your house is not energy certified (and it will cost maybe $400 to $500 to even have the certification done) . . . then who is gonna buy it if they can't get a loan?
New homes being built as soon as that bill passes will have to meet various standards, costing the builder MORE . . . I dunno. It is the worst possible time in the last 50 years to be attempting this crazy stuff in that legislation. Just nuts.
So no . . . I am seeing what you are seeing, John. Homes are gonna be a totally different type of asset in a matter of months if that bill passes as it is now written (all 1400 pp of it). It is as tho this Administration wants to bankrupt the middle class . . . when people have to leave the area to find work . . . and they end up having to walk away from their homes b/c they can't sell them . . . seems like this is easily figured out. Putting more restrictions on a homeowner's ability to sell that property at this point in time is sheer insanity.
^^^^Amen. But why is this picture in front of us not that clear to others?
Folks, stop, think, reflect. Take your self serving opinions out of the picture for a moment and think about these consequenses that Ani has posted. Himan posted a few hours ago a house she bought a year ago that has already lost a substantial amount of value. Strickly on the fact that a builder needs to survive, so, what does he do....builds a cheaper house, new, right next to her's she bought 12 months ago.
You know something, supply and demand...you're right GK, I take it back...this is supply and demand in the truest sense of the word.
One world, we're all equal, BS! and...don't get me started before my bedtime..I don't want these recurring nightmares I have been having for the past six months. No LOL, I'm serious.
^^^^Amen. But why is this picture in front of us not that clear to others?
Folks, stop, think, reflect. Take your self serving opinions out of the picture for a moment and think about these consequenses that Ani has posted. Himan posted a few hours ago a house she bought a year ago that has already lost a substantial amount of value. Strickly on the fact that a builder needs to survive, so, what does he do....builds a cheaper house, new, right next to her's she bought 12 months ago.
You know something, supply and demand...you're right GK, I take it back...this is supply and demand in the truest sense of the word.
One world, we're all equal, BS! and...don't get me started before my bedtime..I don't want these recurring nightmares I have been having for the past six months. No LOL, I'm serious.
je
It is worrisome . . . and the thing is . . . folks are not aware of what is on the table. They hear "green" and think - well, that's nice! I want to be green! I want to quit using so much energy! They are not aware that CBO estimats over 2 M job losses - PER YEAR - once the Crap & Trade bill is passed. And the media isn't touching it. I don't know why. No one is taking time to read the legislation . . .yet it will in some way affect every single homeowner (and prospective homeowner) in this entire country.
Oh well. I am not having nightmares. I am just trying to find a piece of land out in the boonies where I can put a mobile home. And I am not LOL on that one, either. I, too, am serious.
^^^^Amen. But why is this picture in front of us not that clear to others?
For starters you have organizations like the NAR who are a HUGE lobbying organization. Don't forget the NAHB and a couple others...
These groups and the people who belong to these outfits (ie Realtors) want "buying" to start again even if inventory is still too high....look at all the people cheering this 8K tax credit when if you think about it, its a TERRIBLE idea. The market should determine supply and demand, not lobbying interests.
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