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

To: Jim McMannis who wrote (278589)	9/25/2010 2:23:34 PM
From: John Vosilla	Respond to of 306849

They have to stay in business and only one way to do that. My guess is they will continue to buy improved land with infrastructure and approvals already in place where they can quickly get in and out at a profit. Unfortunately that adds to more supply in the most overbuilt, speculative hoods from the bubble days but it is better for more effective govn't services and safety if you already live there to build out an unfinished community where 40-80% of the lots are empty many with shells or foundation already down. I think last time out in Florida there were few land development projects started from scratch till about 1998 when the buzz started kicking in again. There is a reason land prices crashed as they did in recent years and will remain depressed for a very long time.. Also why so many communities whose local GDP and employment was so tied to housing are hurt disproportionately greater this downturn. Well you and I both saw this coming along with about five other fellow Floridians back around 2005...lol