News Regarding the Kansas City Housing Market

images.jpgToday’s Kansas City Star brings a couple of articles that drew my attention.  The first being that Pulte Homes is pulling out of Kansas City. 

What took so long?

Seriously.  Pulte was the only national builder in Kansas City.  Meanwhile comparable cities like St. Louis and Memphis are dominated by national builders.   I’m not sure why a culture of local builders has not only survived but thrived here, but it has. 

When you would walk into a Pulte home it was “different” from anything else out there.  That’s not necessarily bad.  But their marketing and incentives were very different.  Kinda flashy and direct.  It just never fit in with Kansas City.

Kansas City is different than any other city I’ve lived in or visited.  In many respects people here want to be like the big boy cities…but they don’t.  Kansas Citians want the national recognition without the headaches that come from being a “big” city. 

We’re just a little bit different.  And that’s okay.

novastar.jpgNovaStar Financial had good news to report considering their circumstances.  NovaStar is our subprime lender that has found itself in the national spotlight for all the wrong reasons.  Watching them for the last year has been like watching a train wreck in slow motion.  But shares jumped yesterday because of the subprime freeze announcement and the fact that Wachovia Bank granted them dispensation to survive till a later date.

I still think it’s only a matter of time before they hit bankruptcy.  But that’s a whole other post. 

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