Quote:
Originally Posted by Daddymac
And as long as the Villages keep pumping out House, it controls the Market. Your not going to sell a “Villa” for $200.000.
When you can buy a New one at $165.000. THE VILLAGES CONTROL THE MARKET.
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Yes! It is basic economics: supply vs. demand
The Villages development company has recently obtained enough land to build thousands more homes which of course will inexhaustibly increase the supply of new homes for years and years to come. The Villages builds houses faster than any other developer of senior housing of which I am aware. They can build them as fast as they can sell them. These new homes will compete with existing homes for buyers, many of whom prefer new homes so they can do it "their way".
Hot markets primarily exist where there are constraints on further development such as available land, high construction costs, limited utility resources, difficult building restrictions, hard to obtain permits, a hot job market, or a highly desirable school district. Coastal view lots in California, Silicon Valley, remote yet desirable resort areas and densely populated cities like NYC and San Fran come to mind.