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On the supply side, efforts to limit growth have made it difficult for builders to keep up.
The move is a reflection of the flailing economy and the clenching of the credit markets that has made it difficult for builders to obtain financing.
That is making it doubly difficult for builders to re-enter the market, said George LaCava, the president of Trilacon Development Corporation in Cromwell, and the president of the Homebuilders Association of Connecticut.
Similar(56)
Changes to the planning system will make it more difficult for local people to block "sustainable development" and easier for builders to convert commercial property into housing.
Community is notoriously hard to define and perhaps even harder for builders to provide.
"The radiation was too high for builders to come near".
In addition, banks tightened lending standards, making it harder for builders to get financing for projects.
"What this government has done is make it easier now for builders to build.
That may seem like an ideal opening for builders to put up new developments.
The risk that the suits will succeed in blocking construction could make it more difficult for the builders to get federal loan guarantees or attract private financing.
"It continues to be extremely difficult for home builders to show real value creation, or in other words, selling homes at levels that can sustain profitability," Ross continues, noting that the one builder that produced break-out earnings in its latest report was D.R. Horton, "and it made four cents the earnings aren't enough to provide price support".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com