I see many articles and speculations about how long it will be before we return to peak production levels of housing - 3 years, 5, years, 10 years. Let me add my 2 cents - never!
And we had better hope that it does not return to 2002-2006 levels. These levels were not sustainable. A market correction was inevitable. It just happened to be a little more forceful than many of us expected.
From the end of 2006 until then middle of this year, many of us kept talking about a housing recovery and resurgence. Some people are still talking about it. I'm not.
Welcome to the new housing market. Inventories are working down. Short sales and negotiations are now a part of the equation. Builders and salespeople need to be more flexible in building a sale. The major builders are not coming back to the pre-crash numbers of production or workforce. Now, we need to get rid of the onerous impact fees and find land at reasonable prices.
Believe me, while somewhat painful, this is good. We want a nice, sustainable, moderately growing construction industry. There have to be real buyers for our products - not just flippers - and they have to be able to afford them.
For more information about my consulting, teaching, and coaching services visit my website at stevehoffacker.com. I also maintain a blog Sales Quips on the real estate network Active Rain, and you can begin participating in this great forum by visiting here. I also write and maintain blogs for Gold Coast SMC and Florida SMC. © 2009, Steve Hoffacker. All Rights Reserved.
And we had better hope that it does not return to 2002-2006 levels. These levels were not sustainable. A market correction was inevitable. It just happened to be a little more forceful than many of us expected.
From the end of 2006 until then middle of this year, many of us kept talking about a housing recovery and resurgence. Some people are still talking about it. I'm not.
Welcome to the new housing market. Inventories are working down. Short sales and negotiations are now a part of the equation. Builders and salespeople need to be more flexible in building a sale. The major builders are not coming back to the pre-crash numbers of production or workforce. Now, we need to get rid of the onerous impact fees and find land at reasonable prices.
Believe me, while somewhat painful, this is good. We want a nice, sustainable, moderately growing construction industry. There have to be real buyers for our products - not just flippers - and they have to be able to afford them.
For more information about my consulting, teaching, and coaching services visit my website at stevehoffacker.com. I also maintain a blog Sales Quips on the real estate network Active Rain, and you can begin participating in this great forum by visiting here. I also write and maintain blogs for Gold Coast SMC and Florida SMC. © 2009, Steve Hoffacker. All Rights Reserved.



