Housing Boom Sparks Fears Over Lack of Land for New Homes

Housing Boom Sparks Fears Over Lack of Land for New Homes sign pointing to new homes for sale A sign is posted in front of new homes for sale at Hamilton Cottages on September 24, 2020, in Novato, Calif. (Justin Sullivan/Getty Images)

By Jeffrey Rodack | Friday, 25 December 2020 02:20 PM

Builders are growing worried they are running out of land to meet the surging demand for new homes.

The Wall Street Journal reported record low interest rates and a new premium on space during the pandemic have generated the biggest housing boom in years.

And a shortage of previously owned homes on the market is leading to an increase in buyers wanting new construction.

Builders, with much of their land inventory still in the development process, face the prospect of a shortage of finished lots or land that can be built on, said Jody Kahn, senior vice president at John Burns Real Estate Consulting LLC.

And Phillippe Lord, chief operating officer at Scottsdale, Arizona-based builder Meritage Homes Corp. said: ''The competition for land is extremely high as the homebuying demand grows.''

New home sales soared 20.8% on a year-on-year basis. The government reported last week that single-family homebuilding, the largest share of the housing market, increased in November to the highest level since April 2007.

But persistent shortages of land, materials and skilled labor are increasing construction costs for builders.

Luke Pickerill, owner of MonteVista Homes in Bend, Oregon, said: ''In Central Oregon, I will literally be out of lots and I’ll have nothing to sell'' by next month. ''All of the inventory that we expected to be selling in quarter one and quarter two of next year, we’ve now sold through it already this year.''

Scott Baio to Newsmax TV: Woke Dems Actually Woke GOP

Scott Baio to Newsmax TV: Woke Dems Actually Woke GOP (Newsmax TV's "The Count")

By Eric Mack | Saturday, 28 November 2020 09:06 PM

The woke Democrats thought they were inspiring their base, but all of the gains by Republicans in the election were a result the GOP being awoken, according to conservative director and actor Scott Baio on Newsmax TV.

"I think it was huge," Baio told Saturday's "The Count" hosted by Tom Basile and Mark Halperin. "We're being censored, Mark.

"TV shows are all woke. There is nowhere you can go in the culture anymore – movies, television, music – where you're not being lectured to or being accused of something. It's completely out of control."

President Donald Trump connected to real Americans, Baio said.

"He talks straight; there's no gray in him," he continued.

"I don't need to take out my political decoder ring every time he speaks. I think that in itself is Trump's connection with people."

Important: See Newsmax TV now carried in 70 million cable homes, on DirecTV Ch. 349, Dish Network Ch. 216, Xfinity Ch. 1115, Spectrum, U-verse Ch. 1220, FiOS Ch. 615, Optimum Ch. 102, Cox cable, Suddenlink Ch. 102, CenturyLink 1209, Mediacom Ch. 277, Frontier 615 or Find More Cable Systems – Click Here.

Scott Baio to Newsmax TV: Woke Dems Actually Woke GOP

Scott Baio to Newsmax TV: Woke Dems Actually Woke GOP (Newsmax TV's "The Count")

By Eric Mack | Saturday, 28 November 2020 09:06 PM

The woke Democrats thought they were inspiring their base, but all of the gains by Republicans in the election were a result the GOP being awoken, according to conservative director and actor Scott Baio on Newsmax TV.

"I think it was huge," Baio told Saturday's "The Count" hosted by Tom Basile and Mark Halperin. "We're being censored, Mark.

"TV shows are all woke. There is nowhere you can go in the culture anymore – movies, television, music – where you're not being lectured to or being accused of something. It's completely out of control."

President Donald Trump connected to real Americans, Baio said.

"He talks straight; there's no gray in him," he continued.

"I don't need to take out my political decoder ring every time he speaks. I think that in itself is Trump's connection with people."

Important: See Newsmax TV now carried in 70 million cable homes, on DirecTV Ch. 349, Dish Network Ch. 216, Xfinity Ch. 1115, Spectrum, U-verse Ch. 1220, FiOS Ch. 615, Optimum Ch. 102, Cox cable, Suddenlink Ch. 102, CenturyLink 1209, Mediacom Ch. 277, Frontier 615 or Find More Cable Systems – Click Here.

Original Article