BonVivant

Homebuilding on an Uptrend?

And, just to add to what the other commentators have stated, you forgot about credit scores. The banks, in addition, to requiring more money down (e.g., 20%) will not be handing out money to anyone who asks for it (e.g., no doc loans). The banks will require folks to have FICO scores (e.g., 700+). This cuts down the number of buyers -- esp. in a recessionary environment.