New Home Sales Dive to Record Low

[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.

[SK in CV]

[quote=sdrealtor]
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.[/quote]

Not nothing, but maybe 10 to 15% of new home construction. What, maybe 10 pts on a typical sale? 6% to you guys, maybe a couple for the lender, maybe a couple more for add on crap, title insurance, the fedex guy always gets his in there somewhere.

Compared to 60 to 90% or more for new construction.

[SK in CV]

[quote=sdrealtor]
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.[/quote]

Not nothing, but maybe 10 to 15% of new home construction. What, maybe 10 pts on a typical sale? 6% to you guys, maybe a couple for the lender, maybe a couple more for add on crap, title insurance, the fedex guy always gets his in there somewhere.

Compared to 60 to 90% or more for new construction.

[SK in CV]

[quote=sdrealtor]
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.[/quote]

Not nothing, but maybe 10 to 15% of new home construction. What, maybe 10 pts on a typical sale? 6% to you guys, maybe a couple for the lender, maybe a couple more for add on crap, title insurance, the fedex guy always gets his in there somewhere.

Compared to 60 to 90% or more for new construction.

[SK in CV]

[quote=sdrealtor]
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.[/quote]

Not nothing, but maybe 10 to 15% of new home construction. What, maybe 10 pts on a typical sale? 6% to you guys, maybe a couple for the lender, maybe a couple more for add on crap, title insurance, the fedex guy always gets his in there somewhere.

Compared to 60 to 90% or more for new construction.

[SK in CV]

[quote=sdrealtor]
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.[/quote]

Not nothing, but maybe 10 to 15% of new home construction. What, maybe 10 pts on a typical sale? 6% to you guys, maybe a couple for the lender, maybe a couple more for add on crap, title insurance, the fedex guy always gets his in there somewhere.

Compared to 60 to 90% or more for new construction.

[briansd1]

[quote=SD Realtor]Yes and equilibrium is that San Diego has always been well overpriced compared to pretty much everywhere else in the country.[/quote]

If you want to be nit picky, always is not true.

How far back? At one point in the past San Diego was cheaper than Detroit.

[briansd1]

[quote=SD Realtor]Yes and equilibrium is that San Diego has always been well overpriced compared to pretty much everywhere else in the country.[/quote]

If you want to be nit picky, always is not true.

How far back? At one point in the past San Diego was cheaper than Detroit.

[briansd1]

[quote=SD Realtor]Yes and equilibrium is that San Diego has always been well overpriced compared to pretty much everywhere else in the country.[/quote]

If you want to be nit picky, always is not true.

How far back? At one point in the past San Diego was cheaper than Detroit.

[briansd1]

[quote=SD Realtor]Yes and equilibrium is that San Diego has always been well overpriced compared to pretty much everywhere else in the country.[/quote]

If you want to be nit picky, always is not true.

How far back? At one point in the past San Diego was cheaper than Detroit.

[briansd1]

[quote=SD Realtor]Yes and equilibrium is that San Diego has always been well overpriced compared to pretty much everywhere else in the country.[/quote]

If you want to be nit picky, always is not true.

How far back? At one point in the past San Diego was cheaper than Detroit.

[briansd1]

[quote=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.[/quote]

Yeah, not exactly nothing…. but not a lot compared to new construction.

I guess buying and selling used stuff at the thrift store is good for the economy too.

I was talking about incremental GDP growth which is badly needed to reduce unemployment.

[briansd1]

[quote=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.[/quote]

Yeah, not exactly nothing…. but not a lot compared to new construction.

I guess buying and selling used stuff at the thrift store is good for the economy too.

I was talking about incremental GDP growth which is badly needed to reduce unemployment.

[briansd1]

[quote=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.[/quote]

Yeah, not exactly nothing…. but not a lot compared to new construction.

I guess buying and selling used stuff at the thrift store is good for the economy too.

I was talking about incremental GDP growth which is badly needed to reduce unemployment.

[briansd1]

[quote=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.[/quote]

Yeah, not exactly nothing…. but not a lot compared to new construction.

I guess buying and selling used stuff at the thrift store is good for the economy too.

I was talking about incremental GDP growth which is badly needed to reduce unemployment.

[Author]

Posts