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The Role of New Home Builders in the Housing Bubble

Fri, 10/24/2008 - 8:32am — Paul_Lukasiak

While there are many factors that explained the “housing bubble”, one culprit is the “new home” industry itself, which stopped building “affordable” homes..

· Nationally, in the first quarter of 2005, 31,000 new homes priced under $125,000 were sold. In the first quarter of 2006, that number had declined to 18,000 homes, and by fourth quarter 2007 that number was down to 8,000.

· The number of new homes sold in the $125k-$249,999 range declined from 34,000 in first quarter 2005 to 26,000 in first quarter 2006, declining to only 14,000 by fourth quarter 2007.

· And for the $150k-$199,999 range, sales fell from 66,000 in first quarter 2005 to 57,000 in first quarter 2006, before plummeting to 33,000 by fourth quarter 2007.

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