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Date Posted: Saturday, July 31, 10:54:18pm
Author: TEXRA
Subject: It's simple supply and demand economics....
In reply to: DE 's message, "Reasons the housing market hasn't come back" on Thursday, July 29, 03:28:38pm

There are too many homes for the number of people who can actually afford them. That oversupply was fueled by government interest rate policies. It will take years for the oversupply to clear.

Until then, there is no quick and easy solution to the oversupply issue. One local builder thought that the answer might be less expensive, smaller homes that were more affordable. The experiment failed because buyers were convinced that they could get better bargains on distressed sales of larger, nicer homes.

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