Something I don't understand: Here in MA, people are leaving the state (well, I do understand that), so our population is dropping, meanwhile, there are lots of houses on th market, with drastically reduced prices, but they aren't selling. So here's what I don't understand: There's a tremendous amount of home construction going on.
Makes no sense to me. Where's the demand???
Massachusetts population has been under pressure for decades. Basically, the state is becoming elderly. Young families flee. The largest influx has been poor, uneducated, welfare consuming illegals. See Holyoak, Lowell, Lawrence, Springfield.
Shelter of all types does decay. It is often cheaper to build new, then remodel. Further older decaying structures are usually in poor, undesired towns and cities.
Another thing that is going on is due to the nature of getting a paycheck as a builder. No buildee da houses, no paycheck. Lots of builders get a bank note to build a house, because they need the money NOW, not when the house is sold. Heck, let the bank have it back. These builders are on fumes and desperate. They are like farmers who have gone on two years of drought crop losses but somehow get credit for seed for one more last planting.
I work in a working class saloon. I’d say about half of non welfare/working class/tradesmen types are either out of work, living off unemployment or working part time.
This is going to be a desastrious Christmas for retailers and hard all around. A lot of people’s nearly year long unemployment is going to be exhausted this winter.
So, housing price averages continue down. More upside down mortgages, more foreclosures, more unemployment( at a slower rate ), more people totally off unemployment insurance. Credit cards shut off for most people, people not using it anyways. Car sales post heroin addiction finance party C4C grinding to a stop. Taxes, fines, fees, permits, all going up. Dollar going down, commodity metals going up, Obama blathering, RINO limp wrist boil suckers ‘leading’ (HA!) the Great Elderly Party, Socialist/Commies pouring it on, smelling blood.
Yeah. It’s all good.