Berkshire Real Estate – Building on Spec?

Builders are beginning to take a look at building on spec again, according to a ny times article.  There is a need for new contruction now.

“Regardless of the economy, people always want a new home,” said Mr. Morris, the owner of Morgan Creek Development.

Although these sentiments may be the exception to the rule, it is a theory that is beginning to surface.

Deborah Tintle Hauser, an associate broker with Daniel Gale Sotheby’s International Realty, said inventory had dwindled to little or no construction, creating “a need for new ones.”

With land values coming down and pricing for materials softening,  developers are taking a look at jumping in again.

http://www.nytimes.com/2010/08/15/realestate/15lizo.html?ref=realestate

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