Yes. This is what it means. However the overpricing was based upon speculative momentum in the market at the time they set the initial pricing. Now that this pricing pressure has reduced or disappeared, they are finding that non-speculative buyers - those that actually plan to live in them as their primary residence - can not afford the speculation driven prices. The real question is - did the builder factor the removal of the speculation premium into their costs ? Its possible they could not since - at least in california - there has been a corresponding bubble in material and labor costs.
kool. Keep buying and moving up ... its easy money .. heck buy 10 or twenty..... housing is the best investment and a great way to make a living ... start a real esate brokerage or a housing related business .. its a great time to do so ... just look at the stats: the largest number of new business starts over the last two years were in real estate or housing related areas .... go ahead join the pack .. they must be correct ....
easy does it with the bearish emotion. we're sorry you werent involved. you can always try your luck at shorting the home stocks. I never said that it was a bubble or this is the top or anything like that.
"Communities in San Jose will not be participating in this promotion." Read the fine print. This affects the fringe of Urbana.
Angry about something? I never said I was a RE speculator. One would have to be a total dope to not take the gain and make your family more comfortable in cheap and easy fashion.