[1010RD]

Horton’s is facing the reality others won’t. Land is the riskiest of all the RE plays. Why would you build here? How many lake view condos can this market absorb? They start for one beds/studios around $300K. Small apartments near the lake or downtown rent for a bargain rate of $2400.00. Those same renters pay prices 10-20% higher than they would in the suburbs, along with higher taxes. It’s nuts.

[Wyatt's Torch]

The biggest question in housing right now is the relationship of multi family homes to the total. Multi family always leads off a housing bottom (see chart). But with shifting millennial attitudes toward home ownership will they revert to "normal" and move to the suburbs when they enter their 30's and have children just like every cohort has done.