Friday, December 01, 2006

Home Alone in Stalled Subdivisions

Stalled subdivisions are starting to gain attention from the media. The housing market for single-family homes and condominiums in rural areas were builders bought land cheap threatens the quality of life for new construction homebuyers.

As builders continue to lower prices, neighbors in the new communities are coping with empty lots and crime. New home construction has fallen - most builders say its the worst market they have ever seen. Such conditions are resulting in leaving brand new homes next to empty lots and barren blocks.

I remember when home builders would throw a slick sales pitch of "Hurry up and buy now before the price increase next Monday." Im thinking that this type of sales pitch wont work now.

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