User 202386

Different Views on Housing Supply

One of the hardest things to do in life is convincing someone of something that has not happened yet. Essentially, predicting the future and then selling that prediction to get people to act. When things are going this badly in real estate, it is very difficult to get people to look at it rationally without emotion. There is going to be a HUGE demand coming very soon for housing. Population continues to grow, people continue to need housing, and the world is still round. As stupid crazy as it was on the upside of this cycle, we are seeing the same stupid crazy on the downside. Prices have way over-corrected in some markets and here in Las Vegas, that problem/opportunity is as acute as you will find. This is one of the main reasons we are seeing so few transactions on the land side. Tons of buyers are looking, but sellers simply don't believe the pricing, so they have, en mass, decided to wait for better times.