a perfect example of this negative train of thought:
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D.R. Horton's "decision makes sense," said Greg Paquin, analyst for The Gregory Group, a Folsom company that studies the new-home market. "I think what we're finding today is that not a lot of developers can make high-rises work based on cost." Material costs have risen, while new-home sales have declined, making projects less feasible, he explained. He estimated high-rise projects won't make economic sense for two or three years
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Nassi and Saca didn't miss the boat - they're three years ahead of it.
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Homebuilders have been backing out of deals to buy land because new-home sales have declined 42 percent in the six-county Sacramento region this year. Industry insiders wonder if D.R. Horton might only be the first to walk away from downtown development in the next few years.
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That has nothing to do with downtown or even urban development. DR Horton is a huge national builder that answers to shareholders and doesn't know a damn thing about downtown. Now it's time for Kolokotronis, Domich, or even Saca to pick up their dropped ball. If anything, I'm just pissed that DR Horton wasted all this time that someone else (someone local) could have been using.
Also remember that DR Horton didn't even try to sell either of those projects. They just killed it.
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