Housing starts at 25 year low Good for Lansing

As housing starts continue to drop, some people might argue that this is further news of the real estate market falling off. Here is a link to the article at yahoo; http://biz.yahoo.com/ap/080117/economy.html This is simple supply and demand. We built a few to many houses in the U.S. over the last few years, and simple economics states that as demand fell off, prices are going to fall, and production will slow. This should mean that we will finally see some of the market inventory start to reduce. We have seen a steady increase in inventory over the last few years in Lansing. This should be the year where we see that number stabilize and start to decrease.
What this area needs is job creation. We have seen some positive signs of growth with the revitalization of the downtown buildings and several of the companies in the area growing employees. The West side GM and Grand River Plant are producing award winning vehicles and our housing starts are at a 25 year low. This is a good formula for the Greater Lansing Real Estate Market. We already are the strongest economic region in Michigan based on unemployment. We should look forward to a stabilization of our real estate market over the next 12 to 14 months.
Also congratulations to Coldwell Banker Hubbell and Briarwood Realty for the Merger. Both Bob Hubbell and Bill Mcleod are great businessmen and I am sure that the combining of these companies will be great for our community. They both have exciting projects going on around town with the Stadium District, Point West, and many other new construction communities. I hope the merger goes smoothly and the combined company has continued success.