Starts and permits so weak today wonder how low do you think rates will need to drop to kick the building industry back into a strong forward gear? Sure seems like there is great demand guess its really about affordability in both single family and even to some extent multi family...tough to make the math work these days...good to see Lennar keeps moving forward
The builders overall have a lot of spec inventory and construction in progress. They try to balance starts with deliveries and the specs already in process. The magic number for many in the mortgage buy-downs seems to be high 5% range it seems or some combination of fee concessions (or waivers) and some price cuts in select situations. Affordability numbers still ugly and tougher on the low end of the income scale. Good to at least see the discipline in starts. They also manage their controlled lots with a lot of options. The new post-bubble housing industry MO!
Starts and permits so weak today wonder how low do you think rates will need to drop to kick the building industry back into a strong forward gear? Sure seems like there is great demand guess its really about affordability in both single family and even to some extent multi family...tough to make the math work these days...good to see Lennar keeps moving forward
The builders overall have a lot of spec inventory and construction in progress. They try to balance starts with deliveries and the specs already in process. The magic number for many in the mortgage buy-downs seems to be high 5% range it seems or some combination of fee concessions (or waivers) and some price cuts in select situations. Affordability numbers still ugly and tougher on the low end of the income scale. Good to at least see the discipline in starts. They also manage their controlled lots with a lot of options. The new post-bubble housing industry MO!