The latest read on April housing starts showed improvement over March, but still a slower building pace than a year ago. The CEO of Arizona-based Taylor Morrison said, 'In December, if you were to talk to anybody, there was, potentially, a house was never going to be sold in the U.S. again. It was that bad.'
The latest read on April housing starts showed improvement over March, but still a slower building pace than a year ago. This, as demand for housing soars and the nation struggles with a deficit of affordable homes for sale.
A construction worker works on nailing down beams at a construction site in the Village Park subdivision in Collierville, Tenn.The latest read on April housing starts showed improvement over March, but still a slower building pace than a year ago. This, as demand for housing soars and the nation struggles with a deficit of affordable homes for sale. So why aren't builders rushing to put shovels in the ground?in Washington, D.C.
Now buyers are coming back, and in fact sales were very strong in April, according to several big production builders. Home builder sentiment is now rising, and while housing starts rose month-over-month in April, they were still not as strong as last year and still well below historically normal levels of production.
"No one can figure out how to build more affordable without some type of change in either the regulatory structure or some form of additional subsidy," said David Brickman, incoming CEO of Freddie Mac, speaking at the Capital Exchange conference. "It is just fundamental economics of building. It is very difficult between land costs, building costs, availability, regulations, it's difficult to get entitled land where people want to live.
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