Housing market recovery in Oakwood, Georgia

Let's not blame Obama or Bush until we've read all of my thoughts on this? Please.

The housing market is recovering in Oakwood, Georgia. A developer wants to build out 302 lots in a new subdivision near Falcons Parkway.

Oh my God is that good news.

I'm a mortgage loan originator and I talk with real estate agents, potential buyers, and others every day. The biggest concern? Inventory.

There are very few existing homes for sale worth buying.

Now, we're about to add 300 homes to the market. Yippee! Can you tell I'm not that excited.

The new homes will have 3,000 square feet of space. Assuming a moderate cost of $89 per square foot, these are not average homes.

We're right back where we started with the housing crisis. Building homes the average person can't afford. Then, creating ways to make the purchase work. Taking the money and running to the back before the check bounces.

We don't need $300,000 houses. We need homes which match the economic demographics of Oakwood.

Right now, that home is too often a run down mobile home, a crime infested apartment complex, or a slumlord dog house.

We have learned nothing since 2006 about economics.