[pnh102]

I don’t see why local governments are handing out any permits to build new structures when the market is currently saturated with unsold inventory.

[TSgt]

While I agree with your assertion I think it has to do with income they receive from said permits and subsequent inspections.

[captnorb]

Think about what you just wrote....Great Socialist comment.

[Atlas Sneezed]

I don’t see why local governments are handing out any permits to build new structures when the market is currently saturated with unsold inventory.

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Because property rights aren’t extinguished in a downturn.

If I want to build my dream home on a lot I own, I can. I don’t have to buy the overpriced crap out there on the market.

[George from New England]

“I don’t see why local governments are handing out any permits to build new structures when the market is currently saturated with unsold inventory.”

We don’t need gov’t deciding what private business should do. Do you realize that this is what you just encouraged?

[PjhCPA]

Are you advocating (more) government control of housing inventory?

[rlferny]

that is what I was going to say. There are so many houses on the market it will be a while before new houses need to be built

[bill1952]

I don’t see why local governments are handing out any permits to build new structures when the market is currently ...

Because, in this context, they have zero legal authority to tell any citizen what he can or cannot do with his own legally owned land

[LikeLight]

I don’t see why local governments are handing out any permits to build new structures when the market is currently saturated with unsold inventory.

Um, because we don't live in the economic hell of a centrally planned economy (yet), but with even FReepers asking questions like this we're well on our way.