The #1 threat to the housing recovery. - 1.Land scarcity: Real estate developers are struggling to find desirable land to start new projects, which is limiting the supply of new homes. A few years ago, banks took ownership of land after developers had foreclosed on some projects. The land is worth less than its original price so banks are reluctant to write off additional losses by selling it too cheaply. Plus, lenders remain cautious about issuing loans for new land purchases. (as per REALTOR Mag) for the full article click - http://realtormag.realtor.org/daily-news/2013/05/06/4-threats-remain-in-housing-recovery?om_rid=AACtp2&om_mid=_BRh9ACB8yWtU4u&om_ntype=RMODaily
Not many people in our Valley can believe the shortage of buildable lots - as we have plenty in Teton Valley Idaho. I view this as an asset for our community. Shovel ready affordable lots and the great people in our Valley will attract more residents. Plus we now have a great re plat process to streamline the path to better design! So the good lots will sell and the poorly designed lots can be designed to sell.