Uncle Sam, The Robber Baron
In Prescott, Arizona yesterday I was told there are buyers, just no sellers. But nobody could suggest there is no land available in that valley. This blog has pointed to several reasons for a lack of sellers; taxes, high replacement costs, etc. This SunSentinel report is making that assumption, and then concludes that is why building is down.
"'Regardless of how good market fundamentals are, we're running out of land,' said David Dabby, in Coral Gables. "With the kind of land restraints we have, it's no wonder single-family starts are down.'"
Think about this editorial when you hear government types say the only solution is to make loans easier to obtain. "The federal government owns somewhere between 600 and 700 million acres of land, or about 30 percent of all U.S. land. No one knows for certain."
Remember the homesteading days, when the government gave land away? Now, its sits on huge chunks of the country, driving up prices and freely loaning to the citizens to buy in at these prices.