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Giant 400: Where Are We Heading?
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| Submitted by: | Anita Clark 5/31/2008 3:05:45 PM PT |
| Location: | Arizona |
| Occupation: | buyer |
The face of housing will be changed much by mid-century. Most people will be renting in multi-family units, buyers will find multifamily units most affordable, there will be more and smaller attached single family homes. The stand alone single family will be rapidly becoming a dinosaur. The majority of the populace will work to pay the rent. Many areas of declined, decaying housing will have been torn down to make way for new highrise and multiple units, rental and ownership. There will be a compelling 'green' aspect to all housing and a parring down in size of family living quarters,lacking today's variations of choice and lustre for the general populace.
Souring? Yes, but not to future generations who will have only the old stories of the way it was.
This current housing market will never rubber band back; resolution of some problems in this sector may well take up to 2020 overall. Interior areas of the nation, the BTW areas will be the last to 'recover'. More grinding and nashing lies ahead the next few years for builders with landnotes they can't pay not renegotiated, sellers who already moved with housing/land still on the market. Young, first home buyers particulary will continue to be scared off from buying by the common broadcast media, reinforcing a syndrome of fear,and find resolution in staying where they are. Some man at the top with the oil can never showed to get the economy sectors bent and rusted gears one of which would make the first grinding turn slowly getting all in motion. The problem is far deep, maybe self-resolution will 'work', maybe not. We have been and are yet a nation of greed. And we can hardly find that necessary 'green'(being heavily pushed by the Fed) to survive, so unaffordable, yet.
Who will be the first? Your sector or my segment? I have not seen builders in Arizona willing choose to use tools for a win-win, they have right in front of them within easy reach. I am a very patient person, and will continue to wait.
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