Arizona home builders buying up land once again VS Is a housing shortage coming?

[mEDITate-OR:

misconstrue what this really means..., to Arid-zone-Ah-eons and U.S.

What Catherine reported to U.S. a few weeks ago was that new home builders were buying, using and then selling fully completed lots to home buyers using the Buyers Tax Credit. But, that the cost of "land" was a fraction of the peak prices.

Now, what we are seeing is that bcuz they are "flush" with cash...

lots of new home sales

AND

a Federal tax "rebate" that allows them to write off all of their losses over the last few years against their even more distant past and current profits.

So..., they are now "land banking".

Buying completely ready lots at fire sale prices.

Does this mean that they see a missive increase in home sales...

nyet, nada, zed, zero..., are you kidding.

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Arizona home builders buying up land once again

Builders buying empty parcels for development as housing industry regroups


Metro Phoenix's home-building market
Home-building permits

604 issued in April 2010
622 issued in April 2009
5,294 issued in April 2005
Home-building permits issued in the first four months of the year
2,964 issued through April 2010
1,561 home-building permits issued through April 2009
Home-building permits
8,500: Projection for home-building permits in 2010
8,027 home-building permits issued in 2009
64,000 home-building permits issued in 2005.

http://www.azcentral.com/news/articles/2010/06/13/20100613arizona-home-builders-rebound.html#reply20363164#ixzz0qnOK3mql

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Is a housing shortage coming?

http://money.cnn.com/2010/06/15/real_estate/new_housing_bubble/

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