Thanks for educating me on the cost-per-square foot issue. It sounds like builders use that term differently than homebuyers and the MLS.
How is business now in your industry? Are the buidlers still asking for lots, or focusing on building out the ones they started? You’ve been doing this long enough to know it’s cyclical and probably have a backup plan.
How can the big builders still make money, increase units sold, and increase profit? How could Lennar post a profit last quarter? Is it because the rising sales in the other regions negated lower sales in the West? Was the lower profit in Western states overcome by selling off some of their land?
How did the subdividing business change in the 90’s? Did you experience a contraction in the 80’s as well? Could you make a prediction about how the new ice age will play out?
If the zoning/govt’ regulations are increasing the cost of land, then we have a valid increase in the higher price of land. How much of the land runup is due to the cost of subdividing, how much due to speculation, in your opinion?
