House Oh House
The Joint Center for Housing Studies has just released their annual report entitled The State of the Nation's Housing 2008 giving a good overview on what the housing market is doing. Of especial concern has been the drop which the home building market is going through. Some of the largest home builders met this week at the annual Bank of America Home Builders Conference in New York. A presentation followed by Q&A given by Larry A. Mizel of M.D.C. Holdings, Incorporated one of the larger building companies during the conference gives an idea of what the housing industry is up against. Additionally Robert Toll, of Toll Brothers, was interviewed at the same conference with some interesting comments on new home sales statistics put out by the US Commerce Department. When he asked statisticians about sales cancellations those were not taken into account, which he thinks could explain how the numbers could be so off. Cancelations this year have risen from a yearly average of about 7% to an unheard of 33%.
................................................................................
Posted, in Real Estate, by Helen Losch | Permalink
| Comments (13)
