Home builders now have 102,000 completed, unsold homes sitting on their builder lots. This is the highest level since 2009 : housing_bubble

[–] Mnemnosyne 14 points 6 months ago

That means prices are coming way down, right? I mean, we've been told that's how it works in capitalism, right? High supply means prices go down, so we'll be having bargain sale prices for homes pretty soon!

Surely capitalism wouldn't lie to us...right?

[+] [email protected] 5 points 6 months ago* (last edited 6 months ago) (1 children)

[deleted]

[–] [email protected] 1 points 6 months ago

Also, building a bunch of homes priced at what you thought you could potentially sell them for 2 years ago no longer pencils. The ride had to end some time, we'll see how it goes.

Builders and developers have loans due, they'll be forced to cut, and then that will force existing he prices lower. That should finally impact rental housing and apartments...but of course each group will fight it all the way and lobby for lowering interest rates to prop up current pricing.

[–] [email protected] 3 points 6 months ago

Nothing ominous here

[–] [email protected] 3 points 6 months ago (1 children)

Can I have one?

[–] [email protected] 3 points 6 months ago

No, go back in your tent.

Housing Bubble 2: Return of the Ugly