new home builders in mckinney

new home builders in mckinney
In her article, size of the New Homes launches Shrinking As Builders Battle Housing Slump, released Sept. 12 in The Wall Street Journal, Kelly Evans explores how the Home Builders are adjusting to the declining housing and mortgage industry. Americans are indebted, and the homebuilding industry to respond.

As a result of the mortgage industry falling, lenders now steer free of subprime mortgages on the large number of Foreclosure and loan defaults. As a result, sales are at an all time low. Home sales in July were 870,000 units, from 1.3 million in 2005.

It is painfully obvious from the turmoil in subprime loans that people can not afford the mortgage on the increasingly popular "McMansions" (term coined by Evans.) In response, Home Builders reduce the surface details of the new houses, which makes sense . According to the Census Bureau, the average American home in the 1980s had about 1,500 square feet. Space in homes gradually increased with each new housing unit in the last 20 years, until they hit a high of nearly 2250 square meters in 2005.

Today, Home Builders, such as KB Home, Centex Corp. and Toll Brothers Inc. are in Evans' article states that new dwellings are smaller than the popular suburb of spacious homes. The companies recognize that people can not afford bigger homes and in the hope that these smaller houses - sometimes only the smaller of 200 square meters - is in reach for the buyer.

Home Builders hope to sell more of these houses, in order for the lost profits they are confronted.

Author Bio: Allison Roberts is a graduate of the University of North Texas Department of Journalism. She has experience in the agency and in freelance public relations. Allison currently writes for Credit Solutions, and it is an unfinished work of her late grandfather. More Articles by Allison on bankruptcy and Bad Credit