Could it also be that your numbers are active, available inventory and Mike's include those Under Contract but not closed? It would help if each explained exactly what they meant by " inventory". Segmenting by detached single family, townhome, condo as well as new construction vs existing has to be done.
I think everything is downstream of housing prices, and housing became spectacularly unaffordable in the last 4 years. First prices, then mortgage rates and the whole debacle was a failure of government policy. Not a coincidence that a very high % of the dollars in circulation came into being out of fresh air during that time. And not surprising that so much fraud is being revealed. But by all means, the answer is obviously more, bigger government intervention. Sigh.
@LoganMohtashami@YouTube If you're selling a house to buy another house in the same market does price decline nominal or inflation adjusted even matter? Also been keeping an eye out for you around OC and Irvine. Visiting from NC. 🤣
What a gorgeous project! Mixed use and beautiful architecture on only one acre. If this is what infill looks like I think more people would love it. Come on Charlotte! Is this even possible with our UDO?
For a quick project overview now that we’ve broken ground:
Townsend is a ~1-acre mixed-use infill project in a growing, walkable district in the Oklahoma City metro (downtown Edmond).
It includes 2 live-works + 18 townhomes for sale, plus ~13,000 SF of mixed-use commercial that we’re holding long-term with investors and operating as a professional workspace: https://t.co/S6PW5xqWRX
We call this “inner-block development.” We aren’t just lining buildings along a street – we’re shaping a sequence of inner-block spaces. When you’re standing inside the project, you're in your own little world. This is where the magic happens. And it’s why we love ~3/4-acre+ sites: you can create a real, coherent “place”. A pocket neighborhood with its own identity.
Do this within an already growing, walkable district, a place within a place, and that’s our thesis at Building Culture. Walkable places are the most valuable real estate over the long term. In walkable places, demand often increases with supply. The more people move there, the more businesses and services the area can support – and the better it gets. We want to leverage this by focusing our efforts on several walkable districts across the OKC metro, building the undersupplied “missing ingredients” of great walkable places.
We’ve broken Townsend into three phases to manage risk and use equity efficiently. We just broke ground on the Phase 1 commercial: demo ➡️ grading ➡️ utilities ➡️ foundation…then the structural masonry starts this spring. That’s when things start getting reeeally cool.
Building Culture is the architect, GC, and lead developer on the project. We have 30 individual investors who’ve joined us to help make this happen, and we’re immensely grateful.
More to come as we build.
@DarrigoMelanie Just out, available at Walmart, a calculator preloaded with $600,000,000,000. Pass it around quick. I need to know how many big macs that can buy!
@ninaturner Just out, available at Walmart, a calculator preloaded with $600,000,000,000. Pass it around quick. I need to know how many big macs that can buy!
@Tesho13@UrbanCourtyard I don't think courtyard neighborhoods are that far from Texas donuts. Absolutely Charlotte is ready for beautiful and creative things.
@Tesho13 Please look at the area around Mallard Creek Rd and Sugar Creek, Nevin and Gibbon Rd, Derita Ave. Nevin and Gibbon is the area where the Derita station is slated to be. Much of it looks crappy because the buildings were never built for beauty or to last
@Tesho13 I am deadly serious that Derita is the place for this vision. The scale of the roads is small, no fighting 4 lane high speed behemoths. The current improvements are cheap and ugly and were never built for beauty or to last. @HasheemHalim