Builders are compounding housing market issues!
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7/12/2008
The local housing market, until recently, has been booming. Several builders have moved in (I can think of about 10 off the top of my head). Everywhere you go all you see is billboards for builders! I bought my house about a year ago, thinking I got a great deal. Shortly there after, when the housing crunch hit, houses stopped selling. The builders still could build for cheaper than they could sell, so they just keep building. This has priced most people out of being able to sell their home. Quality of most of the houses going up is inferior (Centex excluded), but most buyers arent able to tell the difference anyway. Beware of buying a house in the area- the builders will sink any hope of you getting out from under a housing purchase!
Daniel | North Charleston, SC