New Home Sales Dive to Record Low

[sdrealtor]

or not but at least it will look that way on someone’s graph.

[SD Realtor]

Yes and equilibrium is that San Diego has always been well overpriced compared to pretty much everywhere else in the country.

[SD Realtor]

Yes and equilibrium is that San Diego has always been well overpriced compared to pretty much everywhere else in the country.

[SD Realtor]

Yes and equilibrium is that San Diego has always been well overpriced compared to pretty much everywhere else in the country.

[SD Realtor]

Yes and equilibrium is that San Diego has always been well overpriced compared to pretty much everywhere else in the country.

[SD Realtor]

Yes and equilibrium is that San Diego has always been well overpriced compared to pretty much everywhere else in the country.

[SK in CV]

[quote=briansd1]We need to increase housing starts in order to stimulate economic growth. The resale of existing house does nothing for GDP.

But how to encourage building without price appreciation? Builders need access to cheaper land, building materials and contract labor.

Interesting predicament we’re in.[/quote]

You’re right that building homes is just about the best economic stimulus. But there’s no reason to increase housing starts until there is a shortage of housing. There isn’t. And nationally, there won’t be for at least a couple years. There may be geographic pockets that need more houses built. San Diego certainly doesn’t appear to be one of them. Some areas won’t need more homes for close to a decade.

Encouraging building for building sake is like building bridges to nowhere.

[SK in CV]

[quote=briansd1]We need to increase housing starts in order to stimulate economic growth. The resale of existing house does nothing for GDP.

But how to encourage building without price appreciation? Builders need access to cheaper land, building materials and contract labor.

Interesting predicament we’re in.[/quote]

You’re right that building homes is just about the best economic stimulus. But there’s no reason to increase housing starts until there is a shortage of housing. There isn’t. And nationally, there won’t be for at least a couple years. There may be geographic pockets that need more houses built. San Diego certainly doesn’t appear to be one of them. Some areas won’t need more homes for close to a decade.

Encouraging building for building sake is like building bridges to nowhere.

[SK in CV]

[quote=briansd1]We need to increase housing starts in order to stimulate economic growth. The resale of existing house does nothing for GDP.

But how to encourage building without price appreciation? Builders need access to cheaper land, building materials and contract labor.

Interesting predicament we’re in.[/quote]

You’re right that building homes is just about the best economic stimulus. But there’s no reason to increase housing starts until there is a shortage of housing. There isn’t. And nationally, there won’t be for at least a couple years. There may be geographic pockets that need more houses built. San Diego certainly doesn’t appear to be one of them. Some areas won’t need more homes for close to a decade.

Encouraging building for building sake is like building bridges to nowhere.

[SK in CV]

[quote=briansd1]We need to increase housing starts in order to stimulate economic growth. The resale of existing house does nothing for GDP.

But how to encourage building without price appreciation? Builders need access to cheaper land, building materials and contract labor.

Interesting predicament we’re in.[/quote]

You’re right that building homes is just about the best economic stimulus. But there’s no reason to increase housing starts until there is a shortage of housing. There isn’t. And nationally, there won’t be for at least a couple years. There may be geographic pockets that need more houses built. San Diego certainly doesn’t appear to be one of them. Some areas won’t need more homes for close to a decade.

Encouraging building for building sake is like building bridges to nowhere.

[SK in CV]

[quote=briansd1]We need to increase housing starts in order to stimulate economic growth. The resale of existing house does nothing for GDP.

But how to encourage building without price appreciation? Builders need access to cheaper land, building materials and contract labor.

Interesting predicament we’re in.[/quote]

You’re right that building homes is just about the best economic stimulus. But there’s no reason to increase housing starts until there is a shortage of housing. There isn’t. And nationally, there won’t be for at least a couple years. There may be geographic pockets that need more houses built. San Diego certainly doesn’t appear to be one of them. Some areas won’t need more homes for close to a decade.

Encouraging building for building sake is like building bridges to nowhere.

[sdrealtor]

[quote=briansd1]We need to increase housing starts in order to stimulate economic growth. The resale of existing house does nothing for GDP.

But how to encourage building without price appreciation? Builders need access to cheaper land, building materials and contract labor.

Interesting predicament we’re in.[/quote]

BTW, in the typical real estate resale transaction there are about 30 to 40 people involved who are compensated in some way. Then the new homeowner will typically spend money on paint, flooring, appliances, furniture, landscaping and numerous other improvements. Saying the the resale of exisitng houses do nothing for GDP translates to not understanding what really occurs.

[sdrealtor]

[quote=briansd1]We need to increase housing starts in order to stimulate economic growth. The resale of existing house does nothing for GDP.

But how to encourage building without price appreciation? Builders need access to cheaper land, building materials and contract labor.

Interesting predicament we’re in.[/quote]

BTW, in the typical real estate resale transaction there are about 30 to 40 people involved who are compensated in some way. Then the new homeowner will typically spend money on paint, flooring, appliances, furniture, landscaping and numerous other improvements. Saying the the resale of exisitng houses do nothing for GDP translates to not understanding what really occurs.

[sdrealtor]

[quote=briansd1]We need to increase housing starts in order to stimulate economic growth. The resale of existing house does nothing for GDP.

But how to encourage building without price appreciation? Builders need access to cheaper land, building materials and contract labor.

Interesting predicament we’re in.[/quote]

BTW, in the typical real estate resale transaction there are about 30 to 40 people involved who are compensated in some way. Then the new homeowner will typically spend money on paint, flooring, appliances, furniture, landscaping and numerous other improvements. Saying the the resale of exisitng houses do nothing for GDP translates to not understanding what really occurs.

[sdrealtor]

[quote=briansd1]We need to increase housing starts in order to stimulate economic growth. The resale of existing house does nothing for GDP.

But how to encourage building without price appreciation? Builders need access to cheaper land, building materials and contract labor.

Interesting predicament we’re in.[/quote]

BTW, in the typical real estate resale transaction there are about 30 to 40 people involved who are compensated in some way. Then the new homeowner will typically spend money on paint, flooring, appliances, furniture, landscaping and numerous other improvements. Saying the the resale of exisitng houses do nothing for GDP translates to not understanding what really occurs.

[Author]

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