NEW YORK CITY-The housing market slump is forcing homebuildersto demand cheaper prices for lands from land brokers, while in somecases, pulling out of deals completely.
Builders are also unwilling to purchase lands completely andinstead are choosing options such as purchasing the land later onat a fixed price. According to research firm Zelman &Associates, only 8% of land buyers had increased bidding prices inJuly 2010, a decrease from April's 54% bid price. For thefull story, go to The Wall Street Journal.
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