Developing Affordable Housing Ecosystems World Wide
[Continued from part 1]
3. Home builders stop building new. Land prices drop. Well documented is the preternatural sensitivity of home builders — if they have not gone in the ground on a new property, they can stop almost immediately, and simply hold the land in inventory. As the Wall Street Journal sonorously intoned last July:
Already […]
Predicting gloom is great fun, and it sells newspapers, so throughout 2006 we have had breathless dire predictions of impending home-price crash — yet nothing of the sort has occurred. The reasons illustrate why the homeownership ecosystem is so resistant to price drops. Aside from the elasticity of housing demand, homeownership markets have […]
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