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Are builders slowing down?

I just read that Housing Starts and Building Permits for September were weaker than expected and are at a 14-year low, anyone else see this report?. If builders are slowing down this is good news for re-sale. One of my listings has a planned new development just across the street, there has been no activity for months, potential buyers have been uncomfortable with the possibility of new construction noise or the lack of activity (can't win). This is a great house, lots of showings, one failed sale, just has the wrong view. Positive news: consumer inflation remained stable, and met expectations. Things are never as bad as they seem.

Posted by Cindy Saling on 10/17/2007 11:37 PM

Comments (2)

2 Comments on Are builders slowing down?

OCT

2007

Builders will have to slow down. There was too much building going on during the real estate boom, as much of the new homes were built as specs for investors never intending to live there. Less building will be good for existing homes on the market, but at the same time, less building means less construction workers will have jobs, which will lead too, higher unemployment, more foreclosures, etc. I think its the great time to own investment and rental properties.

Thanks for you comments. In our area we have more rentals, than renters. Investors are finding themselves stuck with vacant property, facing foreclosure and bankruptcy. With that said; Real Estate still remains one of the best long-term investments out there.

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