VACANCY RATE POLL - Is Cohousing Overbuilt? How many vacancies at your community?
From: Thomas Lofft (tloffthotmail.com)
Date: Sun, 10 Aug 2008 10:09:01 -0700 (PDT)
I noted on a few sig lines, promotion of available units.
 
One of the major weaknesses of the present US economy is the overbuilding of 
the residential market from 2003 through 2006.  This is prototypical of the 
residential development cycle: every time the glut gets sold off (1998-2001) 
and the market demand increases, builder/developers all figure thay can each 
develop a project to capture, say, 1% of the market.  No risk in only targeting 
1% of the market, is there? 
Unless, perhaps, 200 builder/developers all start projects to capture 1% of the 
market.  Suddenly, the market is 100% overbuilt.  How did that happen?  Duh?
 
If you're willing to share, I'd love to know how many communities still have 
unoccupied units for sale, how long they have been on the market, and whether 
any communities have seen what they would perceive to be an overbuilding of 
cohousing units in their particular demand area.
 
Thanks for sharing.
 
TOM LOFFT
Liberty Village, MD
 
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