Wouldn't it make sense that lower cost developments would be the first to move forward as the economy recovers? I guess I don't see any pent-up demand out there waiting for expensive housing (article didn't mention approximate new development house prices so I'm making an assumption here). Even if banks were lending, doubt there are a lot out there just waiting for economy to recover. And what does one consider a recovery? More jobs? Less people worried about losing their jobs? Hard to define and I don't envision anything happening for a while. Especially when taxes are slated to increase and costs are still going up (WE Energies for example and taxes in IL).
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I'm thinking subdivisions with 1000sq ft max houses. Face it the era of huge houses is over. The majority of folks, unless your a village admin, won't be able to afford them. We need to start disassembling/recycling the vacant ones and returning them to vacant lots. Could be some bailout dollars to do a start up to do just that. Then build super efficient 1000sq ft max ones.
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