Ok, so the housing market is STILL great, Where should I begin building homes to the Masses ?

Question

In my past post I asked everyone if I should buy a home, if the market was falling. I got mostly the idea that the market has never been better and that now is a GREAT time to buy a house, with prices only going to go up and up. So if its a great time to buy, then perhaps it would be BETTER TO START BUILDING HOMES instead of buying them?

I figured that yes, I've always wanted to become a real estate tycoon, so now is as good a chance as ever to become REALLY RICH buy building homes. After all, we have millions of people flooding into Canada each year, and they all need some place to live, so I might as well build a place for them to stay.

So my question to you is this: Where in Canada should I build? Or perhaps is the States a better and more Booming place to invest my time and money in? I love California and Hawaii and I'd love to retire there a millionaire soon, so maybe I should start up shop down there?

Where should I begin building for the fastest growth potential ??

Thanks and GOD BLESS !!

Answer 1

Now is a good time to buy, not build. We just bought a new construction and the builder dropped the price over 15,000, paid all closing, gave us upgrades, and even paid to break our apartment lease. He did this because he had so many homes sitting open and his other projects were stalled. Also, after a certain time the builders construction loan comes into payment and he has an empty house sitting there, costing him. The market is flooded with houses for sale. It is a buyers market, not a sellers/builders!