New Construction in San Diego County is hurting in a big way. It will take a few years before we see a lot of new homes in Ramona and the rest of San Diego. No matter what you here on the news or see in the newspapers. The cost of new construction far exceeds the value of the home being built., which means that we will see some owner builder jobs where cost can be absorbed by the owner’s time as an investment in future equity. Other than that we will see a few low income projects sponsored by HUD. The remodel business will take off in a very positive manner. As more homes are upgraded and have value added equity this will help to raise home prices and allow new construction. I have my favorite photo up on this one because it reminds me of how tough this economic climate is and the only way through is to just keep plowing ahead.
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