A few builders (who have the $$ and status) have seen this market and know it will have an overflow of renters. They are building and holding these properties for cash flow purposes until the residential market returns. Less buyers can qualify and are now renters. The investment market is the only hot market. It always happens as real estate is based on cycles.
This market we are heading into is like the 90's. It was tough. Saying that...this article could have been written a long time ago. We are 2-3years (at least) away from a recovery and that is very optimistic. Hess is just playing w/statistics.

I certainly hope you let the feds know about this time-line so they can announce that they have solid information on the duration of this "recession" and everyone should plan accordingly.

To the Geeker: Well the space and attention span here is not ideal. I have been doing this for 34 years in 3 states. I am sorry your world is so small.

So what page are you on in the "Who's Who?"
Bear and Sterns have been doing it for over 85 years.

Conclusion: The longer you do it the worse you become?

Since building is down by 75%, I guess the density issue is not an issue anymore. No sense in packing in more people where houses are not selling and not being built.
Thousands of houses remain on the market, unsold for months.

Spring time is here and farmers have started tilling and planting.

We''ll continue to see green open spaces in some neighborhoods like East Hempfield, etc. until the builders strong arm or payoff some supervisor to go with density.
Right now they are all being carefully watched and tracked in East Hempfield at least. Density makes for some strange bedfellows.
It's just sad to see 'local builders' come home to Lancaster to rape the very land they grew up in all for the sake of money.
Suburbs are suburbs, not Dense-Cities.