.......gap existed, we just didn't believe it would last this long. The back story and commentary (as well as an enlargeable chart) can be found here. Essentially, the construction of new single family houses has been in the tank since 2007. The early part of the tankage was caused by over-building in the 2002-2006 era. More recently, it has been caused by the still-too-great price differential between the "distressed" inventory of older single family houses and the actual costs of new construction. All markets are different, but we are hoping the price differential shrinks pretty soon. An active construction industry will be a tremendous shot in the arm for our economy. Have I told you lately that we have some fabulous wooded building lots available?
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