WHAT ARE YOUR PREDICTIONS FOR NEW HOUSING STARTS IN 2009?
It should be zero until 90% of all foreclosures are off the market.
Btw, where I live in FL it is zero. Builders can't get money from the banks, buyers can't get a mortgage, and about 1 in 7 existing homes are either in foreclosure or in the process of being short sold. And this is just round one. Wait until the next round of ARMs reset. It's a disaster, absolute disaster. The people calling for a recovery in the second half of '09 are dreaming! Not only will it not recover by then...it will get worse, much worse. I don't know if the entire country will slip into a depression but FL certainly will.
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