home sales drop 1.5% y-o-y
of course home builders are again siting a shortage of labor and a shortage of land.
of course i beleive this to be False.
there is no shortage of labor, there is only supply and demand. there is only a shortage of labor at the low wage they want to offer. give a better wage, and more workers will come and take those jobs.
pay a higher price for land , and there will be more land holders saying ' yes i will sell you this lot'.
i know of lots of empty lots around the tucson area... the owner just waiting for a much higher price.
businesses in america have been spoiled by 40 years of wages underperforming inflation, so they have gotten used to the idea that there should always be more workers available without pushing up wages.
so currently business are not willing to raise wages, but then they say there is a shortage or workers.
at the very bottom, wages have gone up locally, only because voters in AZ voted to push up the minimum wage. other than that wages are not rising very much.
Oh, businesses in the construction area, got used to the cheap illegal labor. Depressed the wages for skilled workers that are legal residents. But even the illegals are holding out for better wages. I say, they can take the long hike back to their country of origin. DO NOT hire illegals for anything.
The housing market around Boston is still hot. Unimpressive houses are selling for over $1 million in a couple days, while every available parking lot or 1 story shop is getting turned into a 4 story condo.
https://www.trulia.com/real_estate/Somerville-Massachusetts/
New housing is hot in Cincinnati area
The recession drove out a lot of the craftsmen to other jobs
Those that suffered through are now reaping the rewards.
Demand is above supply and prices are rising
As for land Large subdivisions take years to get approved and designed.