Tuesday, October 9, 2012
‘Builders’ are actually land bankers
This review of the UK housing market and the role that building could play in boosting the economy reveals why building houses may not help get the economy moving much: "Local authorities say they have given permission for 400,000 homes that developers have yet to build, with some sitting there waiting for prices to rise." A while back, I recall reading on the Renegade Economist site that UK builders aren't really interested in building as much as land banking. The money is in land not producing things.