Radar Logic CEO Michael Feder talks to Matt Miller and Carol Massar of Bloomberg about the housing market, saying home sales this summer are likely to be the “lowest activity in years” as a result of the homebuyer tax credit pulling so much demand forward in the spring.
The headline this interview generated at Bloomberg appears in the title of this post above. Feder notes that home sales could decline anywhere between 10 percent and 40 percent now that homebuyers are no longer being paid to buy houses.
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Given the amount of inventory, not to mention the shadow inventory, how expensive would it be to pay builders not to build for, say, 24 months? It has to be cheaper than some of the stupid gimmicks the administration already has tried to keep house sales and prices up.
[...] being said, I want to highlight the following video bit from Bloomberg (hat tip TMTGSM who originally posted this yesterday) whereby Michael Feder, CEO of Radar Logic, gives what I [...]