Did anyone else see this in USA Today? Am I wrong to think it's a bit worrisome?
Unbuilt Homes Sell Like Crazy
The number of houses for sale even before they're built has jumped 47% the past 12 months, adding to worries that overbuilding and speculation could bring the housing boom to a bust.
...April's number is the highest since the government began tracking it in 1973.
... a glut of new houses could end the housing boom -- and, possibly, stick builders and speculators with undeveloped property if the boom goes bust....
Another worry: Unbuilt homes for sale could be used for flipping, buying in hopes of selling for a quick profit. In pre-construction flipping, a speculator puts a deposit down on an unbuilt home and sells it on completion -- or even before....
Maybe I'm missing something here, but is there a huge difference between day-trading tech stocks that have never made a profit and flipping houses that have never been lived in?
I seem to recall that the '90s stock boom didn't end particularly well. Ah, but this time it's different -- right?