The Horror, The Horror
If I were to be true to the sentiment in the title of this post, I would have provided a photo of a bloated Marlon Brando as General Kurtz in the film Apocolypse Now. What an apt title to describe the chaos that is about to descend on American homeowners as the promise of a housing boom turns into an absolute nightmare.
No matter where I turn, the images remain the same…ugly. Today’s Tribune reports New-home demand fell 36 percent along Wasatch Front in 2007. While the truth is actually more positive than the headline may project, the facts are housing in Utah is in big, big trouble. The report indicates home demand fell 36% in the last year based purely on the number of permits requested.
It’s important to remember this is a builder number, not a consumer number. While it will accurately reflect builder sentiment, it doesn’t necessarily reflect consumer sentiment.
That said, the numbers remain ugly.