Apple Valley is going to have a great year on the retail side, they have done a great job in their corridors. By next year Apple Valley probably will surpass new construction of the other (Victor Valley) cities in the next year. |
I think single family building will continue to grow, probably not as quickly as we have seen. If builders don't get priced out by the cost of land by end of 2006 we will probably do about 6,500 units next year (in the Victor Valley), which is well above the peak of 1989, but less than this year. |
The challenge has been for a developer to enter into a semi-profitable venture. It is hard to do it at 10 units per acre. It is more reasonable at 15 per acre. There are going to be a bunch of new people in the very near future priced out of the new housing market. |