A recent column by Eli Segall states that home sales have stagnated. Boy, is he telling the truth. The developers haven’t learned their lesson from the last crash. Why would you increase prices so much when the cost to build homes has not risen? Greed, that’s why.
I worked for years in construction, and those who succeeded had a saying: “The small jobs, cost-wise, were the ones that kept your cash flow and profit.” That is so right. I watched as greed killed developers with too much inventory and debt.
Wise up, slow down and reduce your prices. You’ll be laughing all the way to the bank while the other developers go broke.