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Article Excerpt
in 1985, an outlook for the future conference was held in Jackson. Experts made predictions about growth trends, land use, transportation and real estate in the metro area. There was much speculation about the supply and demand for various types of housing based on demographics, economics and consumer preferences. During the question and answer session, one of the premiere homebuilders in the state stood and with a modest grin said, "It doesn't matter about demand. As long as there is a lender that will finance it, a builder will build it."
His point was that the forces of supply and demand in the real estate market are heavily, if not overly, influenced by financing. The two-and-a-half decades following that day serve to amplify his prescient comment. Most observers say the relaxation of credit standards was the...
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