Making The Big Bet On Housing

[Terrel L. Shields]

There are at least 40 houses visible in this picture, none are sold. All for sale. There were no houses here Jan. 1. The subdivision OTOH was a "greenfield" dairy farm that became a poster child for bad developer decisions. It was vacant for some 12 years. Will it work? I donno. The owner /developer is a CG who went into contracting.

 

[timd354]

There are at least 40 houses visible in this picture, none are sold. All for sale. There were no houses here Jan. 1. The subdivision OTOH was a "greenfield" dairy farm that became a poster child for bad developer decisions. It was vacant for some 12 years. Will it work? I donno. The owner /developer is a CG who went into contracting.

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None out of 40 houses sold? Do you know how many are currently pending sales? If a significant number are not pending sales, then this development is likely in deep doo-doo.

 

[Terrel L. Shields]

Do you know how many are currently pending sales? If a significant number are not pending sales

Only three are listed & they weren't done when listed a couple months ago. Some on one street are 1700 SF, others smaller.

 

[Tim The Enchanter]

Why are they not being snapped up?

 

[Deleted member 134708]

There are at least 40 houses visible in this picture, none are sold. All for sale. There were no houses here Jan. 1. The subdivision OTOH was a "greenfield" dairy farm that became a poster child for bad developer decisions. It was vacant for some 12 years. Will it work? I donno. The owner /developer is a CG who went into contracting.

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More on an economic sidebar:

My mom and step-dad in the lumber industry for 35 years a piece.

I was just speaking to her. She says lumber/plywood prices are about at all time highs. She said, not hurricane related at all. This is all prior. Pure supply and demand.

Lot of mills didn't make out of recession. Lot of logging regs due to fire control, politics, etc. Main take away there isn't the same supply of logs these days as before. And demand is highest been in long, long time.

So this is really going to put the pressure on builder margins. You're going to have to be so good at forecasting it's not even funny going forward as a builder.

 

[gregb]

More on an economic sidebar:

My mom and step-dad in the lumber industry for 35 years a piece.

I was just speaking to her. She says lumber/plywood prices are about at all time highs. She said, not hurricane related at all. This is all prior. Pure supply and demand.

Lot of mills didn't make out of recession. Lot of logging regs due to fire control, politics, etc. Main take away there isn't the same supply of logs these days as before. And demand is highest been in long, long time.

So this is really going to put the pressure on builder margins. You're going to have to be so good at forecasting it's not even funny going forward as a builder.

Natural result of tariffs on Canadian lumber.

 

[Tim The Enchanter]

Trouble at the Mill?

 

[techbiker]

Are those homes even level?! Even if they are, they look miserably cheap, boring and identical.

 

[jay trotta]

More on an economic sidebar:

My mom and step-dad in the lumber industry for 35 years a piece.

I was just speaking to her. She says lumber/plywood prices are about at all time highs. She said, not hurricane related at all. This is all prior. Pure supply and demand.

Lot of mills didn't make out of recession. Lot of logging regs due to fire control, politics, etc. Main take away there isn't the same supply of logs these days as before. And demand is highest been in long, long time.

So this is really going to put the pressure on builder margins. You're going to have to be so good at forecasting it's not even funny going forward as a builder.

Builders ? How's the market doing everywhere else (not CA); looks like 40 New Houses with No Buyers from 30,000 feet, somebody jumped into a black hole