tag:blogger.com,1999:blog-11027528911364475.post3300828676187192357..comments2024-02-18T21:10:05.205-08:00Comments on EconomPic: More on the Housing OverbuildJakehttp://www.blogger.com/profile/07946497592651234440noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-11027528911364475.post-47418698524906355472010-04-23T11:05:04.764-07:002010-04-23T11:05:04.764-07:00Thank you! This solves a mystery that has been han...Thank you! This solves a mystery that has been hanging in the back of my mind - of course, we had a housing overbuild, but was it really that much worse than in earlier recessions?<br /><br />The answer is found in your research. Instead of housing keeping up with household size change, it exceeded it. My hunch, based on qualitative anecdotes, is that houses were bought by Boomers as second-homes - either as vacation homes or rentals. That is what is now driving strategic foreclosures - people walking away from homes they no longer want or need.<br />I know that, here in Arizona, one third of homes sold during the boom years went to out-of-town investors.Kimberly Amadeohttp://useconomy.about.com/noreply@blogger.com