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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: ChinuSFO who wrote (142002)	2/14/2014 1:40:55 AM
From: John Vosilla	Respond to of 149317

Remember it had been about six years of nonexistent new construction in most of the country across all property types. Lots of pent up demand, lots of hot money looking to be placed somewhere for yield be it on the equity or debt side, many in the business getting restless after so many down years, plus much higher prices again making new construction feasible again. Finally in too much of the country replacement cost was so much higher than market value for comparable properties it just wasn't feasible to build plus obviously no one would lend to you just based on that one fact alone..