16 Apr 2007 06:57 am
A Glut of New Houses — and What That Means for You
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Even though builders have cut back on the number of new homes they’re starting, they are finding themselves saddled with an unusually large inventory of finished or nearly finished homes. Those empty houses are expensive for builders to carry, thanks to construction loans that won’t be paid off until the home is sold. So builders are getting serious about unloading them. Why should you care? Because if you are thinking about selling your house, new-home builders are your competition. And if you are thinking about buying a house, you should be aware of what is out there. |
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