Although the government continues to admit to a housing shortage which is driving prices of the existing market up, housing starts rose 10% over the first 3/4’s of 2010. 66,800 apartments were under construction in 2010.
After a visit to a recent housing fair where prospective buyers have the opportunity to compare building contractor’s latest offerings, prices for on-paper purchase were shockingly higher than previous years. This author believes this will continue to drive the cost of the existing market up.
With stats like these it is doubtful there will be a housing bubble with demand still exceeding supply.