You’ve read about the massive inventory, you’ve heard about all the builder incentives, you know that sales are way down- but have you actually been out to see what is happening in the new home developments?
In my pursuit to educate Housingdoomers (and to satisfy my own curiosity) I’ve been driving around the new developments in the Phoenix Southeast Valley- in particular Chandler, Gilbert, and Queen Creek. I’ve discovered a number of communities that we here at Housingdoom have taken to calling “Vacantvilles” - large developments with very few homeowners in them- or none at all.
