Snohomish County lot sales have plummeted from 2007-2008.
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Starting to see the same thing here in Las Vegas. Too much standing inventory, so there's no point in buying land (so they think). IF they were smart, they'd buy up some of the older homes in run down neighborhoods close to the city cores. Raze the decrepit homes there and build new. People would buy them because of the location.
Excellent idea...some of our neighborhoods could use a definite faced lift. It would make the city more attractive as whole and bring nice new homes near the city centers!