In many areas, we are seeing developers backing off from earlier ambitious plans. A number of factors are driving their decisions, including a slowing rate of home price increases and a dramatic rise in construction costs.

Another big factor is neighborhood opposition. Developers come in with a grand plan and the neighbors fight it. Sometimes the resistance is valid; sometimes it’s not. In any case, some developers are deciding that certain projects just aren’t worth fighting for and they’re taking their marbles (and their dollars) elsewhere.

Realty Times columnist Al Heavens has an interesting perspective on this issue. Click here to read his observations.

Jackie
Chief Blogger
Wealth Intelligence Academy