25,000 homes sitting there empty and unloved, cookin' in the Arizona desert sun, with another 80,000 stupidly and hilariously on the way.
Oh, man, this is gonna get ugly.
I got nothin' else to say.
He estimated that as many as 25,000 unsold spec homes are sitting on the market, the result of buyers backing out of deals when they couldn't sell their existing homes.
Brown and Burger, of the consulting firm Home Builders Marketing, reported that the Valley finished 2006 with a building-permit total of 42,460, a big drop from the housing-boom period.
Builders pulled more than 60,000 permits for new homes in both 2004 and 2005, but this year's slowdown cut the number drastically.
The analysts expect permits to total 41,000 this year and 44,000 in 2008.
January 29, 2007
Posted by blogger at 1/29/2007