word on the street has it that people are turning to short sales and foreclosure vs buying a PHM new build. makes perfect sense for a few reasons. 1) plenty of the short sales and foreclosures to go around for years to come, and 2) PHM build shiat homes. so the longs should pump money in, shorts standby for PHM to run over the cliff.
Sure wish I could find these homes as it is getting harder to find foreclosures worth buying to fix up for resale. I can safely say that these fixed up resales compete with existing homes, not new homes.