Posted by JML755 on May 01, 2008 at 10:01:06 from (66.184.63.110):
In Reply to: Fighting Developers posted by Nancy Howell on April 30, 2008 at 20:27:30:
mj said: (quoted from post at 12:32:00 05/01/08) should step and grab some of the 10s of thousands of homes currently under foreclosure ...... why build more when the people can't afford what they've got now? :roll: The new houses that the developers are STILL building are only going to cost more than units on the 'previously owned' market ...... Right? :?
mj, People looking right now are "bottom feeders". It's a buyer's market for both existing AND new home sales. Many ARE taking advantage of the glut of foreclosed homes and new homes that developers need to unload.
As to "why build more when the people can't afford what they've got now", some people just want a brand new house built to their specs. And if they're able and willing in today's economy to do it, god bless them. Remember that developers build homes and in the process employ carpenters, electricians, support wood mills, loggers in the NW, refrigerator makers, etc. That's the nature of our economy. It may not make the most sense to you or me, but it's their choice.
Right now, we're all putting more and more of our available income into the gas tank and on the table. Most of us are trying to just hang on and ride out this recession. Not many people that I know are thinking about going out on a limb with a brand new home and new mortgage.
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