Repeating it from Southern Beale’s view - which I agree with - about most Planning Commissions, SoBeale described the overbuilt condo units in Nashville as the fault of the “flaccid Planning Commission.” 

It’s the fault of greedy out-of-state developers who are not invested in our local community, just here to make a quick buck and move on. It’s the fault of a flaccid Planning Commission that never saw a construction permit it didn’t like.

In my own neck of the woods, I live near a massively massively overbuilt subdivision whose developer is from out-of-the-country (as in not in the U.S.) specialized in “affordable housing” and who allegedly had two of his ”guys” named as members of the Planning Commission.  The members of the Planning Commission approved everything that came before it unless constituents got in their faces.  The result?  Poorly constructed homes stacked on top of each other with neighborhoods now crying woe-is-me because of cars parked in mudpits formerly known as yards and drive-by shootings because many of the buyers brought their criminal spawn with them (not ALL the homes, mind you - just a few bad apples spoiling the barrel).

So yeah.  If I had a magic wand to wave, I’d make all members of planning commissions and developers LIVE where they’ve built, with no option to sell and move for at least four years.

Back to Southern Beale: The good news about overbuilding is that eventually the market will even out between new construction and existing homes.  I see builders (and building industry employees and ancillary companies) suffering most while we go through this adjustment period (I know, duh!).  People will continue to buy, but in a buyers’ market they have more to choose from and will be in a better negotiating position.

In other news, if you are working with a Realtor and he/she seems a tad paranoid to you, this is why.  A 24-year old real estate agent in British Columbia was killed on Sunday showing a home.  If your agent seems skittish, it’s not that Realtors don’t trust you… rather it’s that we are kind of partial to living.  Don’t be offended if you’re asked to show your driver’s license prior to a showing (and a copy of it is made).  It’s just a safety measure.