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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?


To: flint who wrote (25917)12/13/2004 8:02:53 AM
From: flintRead Replies (1) | Respond to of 306849
 
fact is the under current of home price slippage has been shown. Yet profits keep rolling.

Developers turn land into houses in less than 18 months.

It cost $40,00 per house to build the roads, and install the site utilities.

$2,000 per house to dig the basement

$2,000 to pour the foundation

$16,000 per house to frame it

$9,000 to sheetrock it

$4,500 to install the windows

$3,500 to roof it

Yet you can sell them for $450,000.00

Land is their expense, not their money in the bank.

Flint