Justin Lahart

speaker

1,185 appearances 22 recordings 1 series first heard Jul 2017 last heard Dec 2024

Justin Lahart’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Housing Recovery: Why New Home Sales Are Lagging · 16 Jul 2018 podcast

Yeah. matched

Right. matched

I mean, so, you know, the home building industry has always been tremendously fragmented. matched

The barriers to entry, I mean, there are barriers to entry. matched

You need some money. matched

You needed some money and you needed some know-how to get in there. matched

But it was a, you know, a real sort of business creator industry. matched

And then what happened after the housing bust and the recession financial crisis is that they just got decimated and there's far fewer and there's just, you know, a bunch of, you know, little firms that were, you know, maybe not building a lot of houses or maybe building, you know, 100 or something. matched

They're just gone. matched

As far as we can tell. matched

So the data comes from the Census Bureau, and the next round of data won't come out for a little while. matched

But there's other data that we have that pretty much suggests that nothing has happened since then in terms of these little builders coming back. matched

So one of the things that's interesting about the housing bust is that all the big public builders, I think there was concern that some of them would go out of business. matched

Well, not many really did. matched

A handful went bankrupt, and I think all but one of them emerged from bankruptcy as ongoing businesses. matched

So they're all still there. matched

All these big public builders are still around. matched

And there's just been a ton of concentration really in the big markets and the major markets. matched

You just see that they have a much greater share than they used to. matched

Well, yeah, I mean, I haven't really seen benefit. matched

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