By Richard Mize Real Estate Editor rmize@oklahoman.comIs housing "broken" or "exciting"? Both extreme views hit my email box this week. First, the bad news, from Ralph Bivens' RealtyNewsReport.com in Houston: The nation's housing market is "broken" because buying a new home is out of reach for too many middle-class Americans, said John McManus, vice president and editorial director of Washington, D.C., construction data firm Hanley Wood's residential group. "Housing is broken because businesses — when they add up what they have to pay for land, fees, people, materials, and capital — are finding their margins bend toward non-viability," McManus said at Hanley Woods' recent Hive Conference in Austin. "Housing is broken because the only housing builders, developers, architects, distributors, and investors can build right now profitably is unaffordable to people who earn average salaries, take home median wages, live normal lives," he said. "Housing is broken because the only way that housing becomes affordable is to wait 25, 30, 40 years, when the new housing today is old, used, in need of repair.Read more on NewsOK.com
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