THIS NEW INNOVATIVE HOME HAS BEEN OFFERED TO THE CONVENTION
The International Builders Show at the Las Vegas Convention Center will not feature The New American Home, a sample home that showcases state-of-the-art home-building concepts, materials and construction techniques that eventually find their way into production homes across the nation.
For the last twenty odd years the show has had a sample home on the floor built with new innovations for the eye to see and the hand to touch. Unfortunately the company building the sample home for the trade show ran into money problems with their lender and the funding had to be withdrawn.
Confidence is not instilled when a company can’t come up with the money for one Sample Home to be placed on the floor of a trade show. Builders are in trouble and nobody knows what lies ahead in the near or distant future of new home construction.
New home sales have to compete with foreclosures in a place like Las Vegas. REO’s and foreclosures are not going away anytime soon because the banks are holding onto their inventory. The banks know if they dump the bulk of their inventory on the market all at once it will depress the market even further. The banks are releasing homes in drips and drabs to satisfy some of the current homebuyers looking for a discount. These discounts will continue to interfere with the Sales and Marketing of New Homes which is the second most important industry in Las Vegas next to Gaming.
This town came to light from the construction boom. Now the lights are out. How long will it take for all the abandoned properties to get back in the hands of homeowners? How long can the town wait? New Home construction and existing home sales creates jobs. There aren’t a whole lot Real Estate and construction jobs being created right now. What’s the answer?
