Economics is all about supply and demand. Several factors are at play simultaneously that may cause an even greater housing shortage and therefore higher prices. Developers and builders have had to declare bankruptcy due to the recent housing crisis and since they couldn’t compete with the liquidation pricing offered via short sales and foreclosures. Concerns over the “fiscal cliff” and possible tax hikes have kept demand lower. Now, it appears there may be additional shortages.
Based on recent events, there has been a massive increase in demand for assault weapons and ammo clips in anticipation of a possible ban. Since history is known to repeat itself, economists are expecting a possible ban on hammers next due to today’s conviction in Boise, Idaho of this woman who used an assault hammer to kill her mother!
As you can tell, at the time of this writing, this story was already starting to go viral on the internet. Home Depot and Lowe’s are anticipating brisk sales as people rush out to acquire hammers before possible bans (or registration requirements set in).
Psychologists are being interviewed to see if hammers are actually a gateway to harsher tools like nail guns.
I will be tracking these developments as I have a personal interest in the outcome. Years ago as a Realtor in Boise, I was checking on the progress of a new home being constructed when I became the victim of a walk by nail gun shooting! The framer missed the stud and a framing nail shot 20’ and hit me as I was on a public sidewalk. Fortunately, it hit sideways!