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New home construction

Started by Towntalk, March 26, 2008, 10:55:39 AM

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northside lurker

But, the people buying the new homes, may be having difficulty selling their previous home, and have to rent them out.
Opportunity is missed by most people because it is dressed in overalls and looks like work.
--Thomas Edison

AllanY2525

If these peole are "riff-raff", then how can they afford a new home in these developments that
are being built in North Lima?  Generally speaking, "riff-raff" have neither the money nor the
credit rating to obtain a mortgage on a new home, townhouse or condo.

Towntalk

Please define "riff-raff from Youngstown".

If these "riff-raff" are property owners, then they are paying property tax that goes in part to paying for schools and roads.

Jaime Hughes

I grew up in North Lima. Loved it there very very much, quiet, mellow place. Now all of these developments are going up and a lot of the "riff-raff" from Youngstown are moving out towards North Lima.

Defend Youngstown

Agreed. North Lima  = "home creation rise". Slow creation allows us to theoretically refocus investment inward, which is critical.

northside lurker

New home construction, and growth in the city are somewhat unrelated.

I feel bad for the contractors who have less work, but I'm glad to see that new home construction is slowing.  This is an oversimplification but, in this area, more new home construction equals more suburban sprawl.  Less new home construction equals less suburban sprawl.
Opportunity is missed by most people because it is dressed in overalls and looks like work.
--Thomas Edison

Towntalk

New home construction in the country is at a 13 year low according to an Associated Press report:

http://biz.yahoo.com/ap/080326/economy.html?.v=11

Not long ago, guests on the Dan Rivers Show were discussing this issue in the valley and noted that contractors are having trouble here in the valley, and when you add the mortgage factor into the equation, it looks bleak for growth in the city.