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When the economy is in recession or sluggish, wealthy people are still going to build that large custom home...or second home.
The company I work for has several large tracts of land to be developed into house lots. Some are large estate lots in rural areas for custom homes up to a million dollars, and others are minimum size lots for much smaller homes.
Right now and for the last few years it is has been mostly the latter, working class and blue collar types, their dream of owning their own home coming true. From my perspective, hard working people who make good decisions will always succeed, and in this very good economic times they are buying new homes in record numbers.
Lazy and unmotivated people will always make excuses for failure.
Poor planing and decision making has repercussions.
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