Tuesday, December 1, 2009
The residential developments across the nation have taken a dramatic shift toward the bottom. This decrease in land developments has taken its toll against all forms. Smart Growth, Mixed-Use, and Urban developments have all been directly hit from the horrible economic conditions of today. These conditions will place the current residential owners in the previous mentioned developments in a difficult situation. If the economic conditions do not change, how will the home owners sale their property? Will lower interest rates have to be implemented to possibly increase sales or will the home owner just have to settle with their loss? There are many positives in developing smart growth, mixed-use, and urban developments. However when these developments fail to carry out the master plans of the site or the development fails to lure buyers in, the many positives can quickly turn into negatives.