Heinz Blasnik- Views You Can Use Message Board

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Strategies & Market Trends : Heinz Blasnik- Views You Can Use

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To: zonder who wrote (1733)	5/23/2003 11:32:49 AM
From: GraceZ	Read Replies (2) of 4912

One of the things holding up the home builders is a move away from the older housing stock that was built like crazy in the fifties and sixties. I love old houses and have a couple that are over 100 years old and these older houses still have many fans. Its the housing from the age of ugly that is getting shunned by the boomers in exchange for new houses with 3000-8000 square feet and walls of windows with multi-story decks and granite kitchens which are open to great rooms. What is happening here is that the older suburbs are getting taken over by first time buyers (and in this area there is still a huge pent up demand for that first house and it gets worse as prices rise) while areas like mine which were largely rural are growing houses like crazy and the inner city has more and more empty abandoned housing. Every time I get together with my neighbors we talk about which farm is turning into houses and we wonder where all the money is coming from and who is buying these things. Meanwhile the big builders are in hog heaven and we're up here hoping for a housing recession that is taking its sweet time in getting here.

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