Zeev's Turnips Patch-No Politics (ZEEV)

[to_da_moon]

Marketmaven,
"Granted there may have been some impacts of bad weather, but the report is that starts were down in the South and West. Here's the deal, plain and simple. People without jobs - or high confidence in the future - will not run out and bur6y themselves in debt in order to buy a new home."

There were plenty of people without jobs last year and that didn't stop the boom. Now one thing that wasn't mentioned was last year anyone who could afford a house bought it and got out of their apartment. Consequently apartment complexes here in the East and South east were running a lousy occupancy rate and started to offer afree month's rent plus many innovative rebates just to fill empty space. So perhaps that source of home buyers has dried up in some areas.
Ironically one of my sons just called me about his business and in closing he said he was bummed out because he and his fiance were to look at two houses today( both resales). One went up for sale yesterday and the other today. Both have contracts on them already before he got out the door.