Comments on: What We Can Learn From Japan http://www.realestateradiousa.com/2008/04/07/what-we-can-learn-from-japan/ Mon, 09 Jan 2012 18:23:19 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Jeff Duffey http://www.realestateradiousa.com/2008/04/07/what-we-can-learn-from-japan/comment-page-1/#comment-666 Jeff Duffey Wed, 09 Apr 2008 04:02:27 +0000 http://www.realestateradiousa.com/blog/2008/04/07/what-we-can-learn-from-japan/#comment-666 Lenore, thanks for your comment. Is the area or city you are referring to limiting the number of homes that are being built? Or is it an area that is land locked? Overbuilding and oversupply can even occur in land locked areas which is why I think citys need to refer to that particular area's historic healthy inventory levels. Some areas it might be 4 or 5 months while other areas may be able to tolerate 8 or 9 months worth of new inventory. I realize this will be hard to monitor but if it can prevent such highs and lows in the future it might just be worth it. And if anyone knows of any cities that have tried to implement such regulations I would love to hear about it. Lenore, thanks for your comment. Is the area or city you are referring to limiting the number of homes that are being built? Or is it an area that is land locked? Overbuilding and oversupply can even occur in land locked areas which is why I think citys need to refer to that particular area’s historic healthy inventory levels. Some areas it might be 4 or 5 months while other areas may be able to tolerate 8 or 9 months worth of new inventory.

I realize this will be hard to monitor but if it can prevent such highs and lows in the future it might just be worth it.

And if anyone knows of any cities that have tried to implement such regulations I would love to hear about it.

]]> By: Lenore Wilkas http://www.realestateradiousa.com/2008/04/07/what-we-can-learn-from-japan/comment-page-1/#comment-664 Lenore Wilkas Tue, 08 Apr 2008 23:52:16 +0000 http://www.realestateradiousa.com/blog/2008/04/07/what-we-can-learn-from-japan/#comment-664 Nice idea about limiting the number of houses but then watch what happens to prices, they skyrocket and no one can afford them. I live in, and work in, such an area with a shortage of housing. Prices have always been higher here because of it. Sure we're seeing short sales and foreclosures in entry level houses that went up to $800,000 for a 900 sq. foot house on a 5000 foot lot in a not so nice area. Now these houses are down into the $500,000's which for most of you sounds like lunacy but on the San Francisco Peninsula, is considered a good buy. The houses selling well above this price, haven't been affected by all of this. If you want to live here, you pay the price. That's what happens when you don't have enough housing for demand. Be careful what you wish for. Nice idea about limiting the number of houses but then watch what happens to prices, they skyrocket and no one can afford them. I live in, and work in, such an area with a shortage of housing. Prices have always been higher here because of it. Sure we’re seeing short sales and foreclosures in entry level houses that went up to $800,000 for a 900 sq. foot house on a 5000 foot lot in a not so nice area. Now these houses are down into the $500,000′s which for most of you sounds like lunacy but on the San Francisco Peninsula, is considered a good buy. The houses selling well above this price, haven’t been affected by all of this. If you want to live here, you pay the price. That’s what happens when you don’t have enough housing for demand.

Be careful what you wish for.

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