Homebuilders' confidence in the housing market again plunged
NEW YORK (CNNMoney.com) -- Homebuilders' confidence in the housing market again plunged to a record low, dragged down by poor financial market conditions, rising unemployment and consumer anxiety, a trade group said Tuesday.
12-02-2008, 07:32 PM #2Condominium
- Join Date
- May 2007
- Minneapolis, MN
The market just doesn't make sense for homebuilders right now with all the existing inventory plumetting in value. If I build a new home today for $600k by the time it's finished I couldn't sell it for more than $450k. It's going to take a long time before the market makes sense again for buidlers. For starters the price of materials needs to come back down and that's unlikely to happenLooking for a realtor in Minnesota? How about a Missouri realtor in St. Louis or Kansas City? Agents Ranking researches the performance of thousands of real estate agents every year and hand selects the best realtors. You can also find information on Minneapolis Realtors at Minneapolisrealestates.com.