Wednesday, July 13, 2005

Not For Sale

The Wall Street Journal (subscription required) has an article today about how some home owners in hot housing areas are putting up signs on there properties that say “Not For Sale.”

“Consider it a sign -- or signs, rather -- that homeowners throughout the U.S. are getting fed up with the booming housing market and especially the rapid pace of development.

With soaring home prices encouraging developers to snap up available land, homeowners in some of the booming regions have begun posting "Not for Sale" signs in their homes and yards to protest the activities of overly aggressive developers and other would-be house buyers.

The "Not for Sale" signs are popping up in the midst of what appears to be one of the longest and most broad-based housing-boom cycles ever. Home prices rose nearly 11% nationwide in 2004, the highest jump since 1979.”


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