by David Kranzler
Investment Research Dynamics
This is from a reader who posted this comment:
I live in “the south” in a very very nice area by the beach. A “developer” built over 20 new homes and purchased several more lots to build on. His last home sold 6 months ago and the rest stay EMPTY! Lock box, not sold, and some for sale signs have been taken off to decrease competition from the other people trying to sell their home.
The average asking price is $500,000 . The lots are cleared but undeveloped. He put a sign up on one lot to show the home that “could” be built there IF anyone purchased it.