Buying Spree: Discounted Land Prices, Long-term Real Estate Potential Are Attracting Developers
RISMEDIA, May 14, 2010 -- "Residential developers and homebuilders who survived the housing bust now are feasting on the remains of those who didn’t. They’ve been on a buying spree, using cash savings to acquire finished, but unbuilt lots and subdivisions that have been stalled or lost to foreclosure or bankruptcy. They’re paying up to 75 percent off peak land prices during the housing boom, and planning to succeed where others have struggled or failed.
All say discounted land prices attracted them, but it was the local housing market’s long-term potential that made them buy."
HT: John Jarrard