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3
Posted on 3/14/23 at 8:38 am to Paul Allen
quote:
but are people still building houses in this current economic situation?
Rich people are, $800k and up around here anyway. Cant keep up with the work.
Posted on 3/14/23 at 11:08 am to Paul Allen
quote:
people still building houses in this current economic situation?
Yes when you check the FRED. Down but still well above 2008 thru 2018 starts - and not much lower than starts in 2007.
quote:
2023 900
2022 1,010
2021 1,127
2020 990
2019 888
2018 876
2017 849
2016 782
2015 715
2014 648
2013 618
2012 535
2011 431
2010 471
2009 445
2008 622
2007 1,046
2006 1,465
2005 1,716
2004 1,611
2003 1,499
2002 1,359
2001 1,273
The argument from the real estate industry is there must be an undersupply of homes but this argument amounts to "wishcasting" IMO because of what the FRED data on rate of home ownership (homes lived in by the person owning the mortgage or property outright) show.
Posted on 3/14/23 at 2:12 pm to Paul Allen
quote:
I know existing home sales are down from 2022, but are people still building houses in this current economic situation?
Just started 2 new houses. Sales are up here in middle TN over the last 3 months. I’m expecting big drop in mortgage rates EOY and want to have both these houses ready. That said, even at current levels I anticipate selling both properties quickly.
There is no inventory here.
This post was edited on 3/14/23 at 2:14 pm
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