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Realistbear

U S Builders Preparing For Disaster

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http://www.builderonline.com/industry-news...rticleID=227018

THE PRECIOUS HOUSING TIDE, WHICH FOR THE LAST SEVERAL years has deposited ever-increasing riches on builder shores, seems to have turned. Traffic counts and sales slowed almost imperceptibly during the final months of the year as interest rates rose into the mid-sixes and prices rose beyond the ability of many to afford them.
John Laing Homes presells all its units.
“We're always running our company as if we're preparing for a disaster,â€
he noted.
“
This is the beginning of the end of the housing bonanza,â€
said David Hill, CEO of Kimball Hill Homes, sounding a note of caution during a panel presentation kicking off the BIG BUILDER conference in Las Vegas last month. Kimball Hill operates in markets throughout the Midwest, West, Southwest, and Southeast.

"This is the beginning of the end of the housing bonanza"

This article reflects the reality of the US housing market directly from the big players in construction--many with UK ties. For the past 60 years every (not some) housing crash that has occured in the US has been mirrored by a similar disaster in the UK.

The crash is on.

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THE PRECIOUS HOUSING TIDE, WHICH FOR THE LAST SEVERAL years has deposited ever-increasing riches on builder shores, seems to have turned. Traffic counts and sales slowed almost imperceptibly during the final months of the year as interest rates rose into the mid-sixes and prices rose beyond the ability of many to afford them.

In some areas not so imperceptibly!

On Ben Jones' blog one of the regular posters stated in the last few days that the sales volume in the area she watches is half that of a year ago.

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In some areas not so imperceptibly!

On Ben Jones' blog one of the regular posters stated in the last few days that the sales volume in the area she watches is half that of a year ago.

The crash seems to be on in Sacramento:

http://www.builderonline.com/industry-news...rticleID=239356

Jan. 13--Sales of new homes in the Sacramento region plunged 57 percent in the last three months of 2005, forcing builders to offer buyers sweeter deals.

When sales are off 57% it is fair to describe such a decrease as noteworthy.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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