High-end home construction making a return to Woodbury

Article by: JIM ANDERSON , Star Tribune
Updated: February 24, 2013 - 8:24 PM

Another sign of the housing market’s recovery is a development of luxury houses coming this spring in the east metro.

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getcrazyFeb. 24, 13 9:28 PM

Meanwhile the other 99% struggle to make ends meet. End tax cuts for the rich.

getcrazyFeb. 24, 13 9:29 PM

I wonder what percentage of these homes will be built by illegal immigrants that are hired by other wealthy Republicans that own construction businesses.

jackpinesavFeb. 25, 13 7:19 AM

Apparently that recovery that Willard said he would bring is already happening.

elmi0001Feb. 25, 13 8:04 AM

Woodbury? Enjoy your commute!

swmnguyFeb. 25, 13 8:58 AM

So cash buyers want shell out a million bucks to buy particle-board palaces in Woodbury? And that's a sign of the health of...anything?

I wonder if these developers actually have buyers lined up for these things. Otherwise, it sounds like another bond-market fleecing operation. You would think people would have learned from the very recent debacle in real estate finance, but with the Fed pumping $85 billion per month into the insolvent Finance system, there's a lot of free money floating around looking for a place to settle. The houses themselves don't ever have to be built for it to be a profitable venture at the highest level of Finance.

I've seen some studies lately that when gasoline hits $3.80 a gallon and stays there, the S&P 500 turns down. If that happens again this time, we won't be reading stories like this.

The market in houses sold by people with lots of equity to buyers who could either pay cash or get however much credit they wanted never did dry up. That segment isn't an indicator of anything.

If we're looking for signs of health in the housing market, we'd be looking for first-time homebuyers to enter the market. We'd be looking for sales of starter homes to non-cash buyers who intend to live in them. We're not seeing any of that. So you can't call this a healthy market.

wingknutFeb. 25, 1311:37 AM

I drove through Woodbury the other day and I noticed that all of the shops, housing developments are different shades of beige.

oldsterFeb. 25, 1311:47 AM

A big step backwards--large homes on large lots with private septic and wells. We just cannot seem to learn anything. How soon do you suppose we will have to subsidize water/sewer service to these folks?