Jan 18 2008 7:30AM | Permalink | Email this | Comments (0) |
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In light of the reports out yesterday (starts and permits at historic lows), I find the behavior of builders in my area to be particularly odd.

After watching home building in the area become virtually non-existent since the middle of last summer, suddenly I'm seeing builders in my neighborhood and nearby ones throwing up houses like there's no tomorrow. It's not like there isn't a large supply of available homes nearby already. Admittedly, they're existing, not new, but still ...

I don't know if they're trying to stave off bankruptcy by selling things quickly (in that case, I guess maybe there is no tomorrow) or if there's a sudden increase in demand, but the way they're going you'd think it was 2005.

I certainly don't mind ... I'm glad to see those last few lots fill up, but it doesn't seem to make a lot of sense.