Analyst sees 'ghost town' in Inland Empire | L.A. Land | Los Angeles Times: "A financial analyst fresh from a tour of construction sites in the Inland Empire is warning Wall Street of a 'ghost town' where finished homes sit vacant and additional homes are still under construction.
'At several properties, there were a significant number of fully built homes sitting vacant along with a large number of additional homes still under construction,' Sandler O'Neill & Partners analyst Aaron Deer wrote today after touring developments in Corona and Ontario. 'At one master plan community, the entire development appeared to be vacant -- with the exception of crews working on new construction, it was a ghost town.'"
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And of course the majority of this "ghost town" construction is in what are supposed to be HOAs.
1 comment:
A high rise condo building that opened last year here in the Atlanta area remains vacant. When I drive by it at night, the same few lights that were on the night before are still on. I don't think a single unit has been sold.
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