The whole county was averaging about 5,000 starts a year until 2002. But in the last 12 months it did 9,908.
When home prices are so much higher than median incomes, it makes for an unhealthy economy.
For the past few years it has been completely a seller's market. Now buyers are going to start to feel like they have some bargaining power, because there are more choices available to them.
Investors are showing a little less enthusiasm and they're not as bullish as before.
I would counsel people not to think that the sky is falling.
It will start to taper off a little bit. It will decrease, because there has been this tremendous push to get some major developments started there. Most of them are now underway.
