The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: John Vosilla who wrote (36252)	7/26/2005 7:39:15 AM
From: Mike Johnston	Read Replies (2) of 306849

But can housing be considered the driver in a place like Boston with little new construction or Atlanta with little appreciation but tons of new construction? In some areas the local economy is driven by construction, in others appreciation, just not to the same degree where both are factors. You are correct about Phoenix, Vegas and Orlando with respect to buildable land and demand from foreigners and people from the Northeast. However, even if the demand is temporarily insatiable, it will eventually be met, it just takes some time to bring new buildable land on line. That is why prices will always be high in Palm Beach or Martha's Vineyard. But if demand was there what is there to prevent developers from putting up, let's say 1 million condo units in Miami ? Only time. I think the biggest restriction in Nevada and Arizona will be availability of water.

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