In a few days there will be a dedicated section of Marketwise that will deal exclusively with the housing market and homebuilders. However, I didn’t want to wait to post this item. From WSJ’s running commentary on Standard Pacific’s earnings call:
The bulk of its land purchases-65%-are in California. The Southeast makes up 24%, while the Southwest comes in at 11%. More than half of the sellers are developers, while banks make up 25%. Banks are still holding on to a lot of land, Mr. Campbell says. Most builders are waiting for lenders to loosen their grip on land holdings.
why is this not surprising?
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