From the Builder's side

Date Line July 23, 2009 -

Testifying before the House Small Business Subcommittee on Finance and Tax, NAHB Chairman Joe Robson, a home builder from Tulsa, Okla., said these two issues "are placing enormous pressure on home builders' bottom lines and, for many, endangering their ability to survive the economic downturn.

 The use of foreclosed sales as comparable in determining new homes values is driving down home prices.  NAHB survey found 26% of builders are losing sales because appraisal on their homes are coming in below the contract sales price.  This has to effect all professionals in the real estate business.

I do not know the answer but one thing I do know is the government does not know either