Comments on: When Demand Is Gone And Lenders Are Out Of Money http://housingdoom.com/2008/06/22/when-demand-is-gone-and-lenders-are-out-of-money/ Thu, 24 May 2012 01:57:19 +0000 hourly 1 http://wordpress.org/?v= By: Yossarian http://housingdoom.com/2008/06/22/when-demand-is-gone-and-lenders-are-out-of-money/#comment-12639 Yossarian Tue, 24 Jun 2008 19:10:24 +0000 http://housingdoom.com/2008/06/22/when-demand-is-gone-and-lenders-are-out-of-money/#comment-12639 Immigration to the US (legal and illegal) tends to track US job growth. That's often not accounted for in city planning 'growth' models. Oops... that means there will be even MORE unsold inventory of homes. And overcrowded schools will become 'merely crowded' and then later, 'uncrowded' ... And yet, and yet... cities and school districts everywhere are still counting on continued growth. Absurd. Immigration to the US (legal and illegal) tends to track US job growth. That’s often not accounted for in city planning ‘growth’ models.
Oops… that means there will be even MORE unsold inventory of homes.
And overcrowded schools will become ‘merely crowded’ and then later, ‘uncrowded’ …
And yet, and yet… cities and school districts everywhere are still counting on continued growth.
Absurd.

]]> By: twist http://housingdoom.com/2008/06/22/when-demand-is-gone-and-lenders-are-out-of-money/#comment-12638 twist Tue, 24 Jun 2008 18:23:29 +0000 http://housingdoom.com/2008/06/22/when-demand-is-gone-and-lenders-are-out-of-money/#comment-12638 Yossarian- I appreciate your patience. : ) We can't count on the illegals for household formation anymore. I've mentioned before about an "undocumented" friend of mine. A year ago there was no parking on her street. When I stopped by in May there wasn't a single car. She said her neighbors were leaving in droves. She returned to Mexico last week. We are hearing that tougher border enforcement is slowing illegal immigration. I think that it's just that lots of Mexicans are going home. Yossarian-

I appreciate your patience. : )

We can’t count on the illegals for household formation anymore. I’ve mentioned before about an “undocumented” friend of mine. A year ago there was no parking on her street. When I stopped by in May there wasn’t a single car. She said her neighbors were leaving in droves.

She returned to Mexico last week.

We are hearing that tougher border enforcement is slowing illegal immigration. I think that it’s just that lots of Mexicans are going home.

]]> By: Yossarian http://housingdoom.com/2008/06/22/when-demand-is-gone-and-lenders-are-out-of-money/#comment-12637 Yossarian Tue, 24 Jun 2008 17:34:59 +0000 http://housingdoom.com/2008/06/22/when-demand-is-gone-and-lenders-are-out-of-money/#comment-12637 Household formation is declining... that's true. If it wasn't for the effects of illegal immigration, US population growth would likely be negative. Didn't household formation peak back in the 80s? Just wondering. No problem on the slight edit, by the way.. I always try to be careful, but should have remembered that one. Household formation is declining… that’s true. If it wasn’t for the effects of illegal immigration, US population growth would likely be negative.
Didn’t household formation peak back in the 80s?
Just wondering.
No problem on the slight edit, by the way.. I always try to be careful, but should have remembered that one.

]]> By: twist http://housingdoom.com/2008/06/22/when-demand-is-gone-and-lenders-are-out-of-money/#comment-12636 twist Tue, 24 Jun 2008 12:33:58 +0000 http://housingdoom.com/2008/06/22/when-demand-is-gone-and-lenders-are-out-of-money/#comment-12636 Yossarian- Ghost buildings and ghost burbs are the inevitable conclusion to this mess. According to the Census Bureau, household formation is currently shrinking in the U.S., not growing. Supply in many areas is such that developers will not be able to hold on long enough to fill their projects. Commercial lenders are hurting, and why would they continue to fund projects that are doomed before they even get the plumbing in? Igor says "explode" I think "fizzle" is more like it. Yossarian-

Ghost buildings and ghost burbs are the inevitable conclusion to this mess. According to the Census Bureau, household formation is currently shrinking in the U.S., not growing.

Supply in many areas is such that developers will not be able to hold on long enough to fill their projects. Commercial lenders are hurting, and why would they continue to fund projects that are doomed before they even get the plumbing in?

Igor says “explode” I think “fizzle” is more like it.

]]> By: Yossarian http://housingdoom.com/2008/06/22/when-demand-is-gone-and-lenders-are-out-of-money/#comment-12635 Yossarian Tue, 24 Jun 2008 07:23:17 +0000 http://housingdoom.com/2008/06/22/when-demand-is-gone-and-lenders-are-out-of-money/#comment-12635 Oh g**, I remember that video. Thanks for posting it again. Portland, Oregon is building ghost tower projects on the 'South Waterfront' ... where there used to be nothing but shipping docks and shipping repair companies. Now, we have several empty condo towers (now 'luxury apartment rentals), and a tram to nowhere. Phoenix will just have thousands and thousands of fake stucco suburbs to remove. And no question, in a couple of years, they will start to bulldoze the suburbs of Phoenix. Queen Creek, Anthem.... we hardly knew ye. [<em>Slight edit. T.</em>] Oh g**, I remember that video. Thanks for posting it again.
Portland, Oregon is building ghost tower projects on the ‘South Waterfront’ … where there used to be nothing but shipping docks and shipping repair companies. Now, we have several empty condo towers (now ‘luxury apartment rentals), and a tram to nowhere.
Phoenix will just have thousands and thousands of fake stucco suburbs to remove. And no question, in a couple of years, they will start to bulldoze the suburbs of Phoenix.

Queen Creek, Anthem…. we hardly knew ye.

[Slight edit. T.]

]]> By: AZSALUKI http://housingdoom.com/2008/06/22/when-demand-is-gone-and-lenders-are-out-of-money/#comment-12634 AZSALUKI Sun, 22 Jun 2008 20:56:18 +0000 http://housingdoom.com/2008/06/22/when-demand-is-gone-and-lenders-are-out-of-money/#comment-12634 I just got back from Miami (don't ask WHY I went to Miami in June!!). Downtown Miami looks just like the project he shows at the end of the video and I don't see why anything there will be different. A lot of projects there that may not pick back up for 5-10 years....if ever??? I just got back from Miami (don’t ask WHY I went to Miami in June!!). Downtown Miami looks just like the project he shows at the end of the video and I don’t see why anything there will be different. A lot of projects there that may not pick back up for 5-10 years….if ever???

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