What we really need more of in Utah is lower home prices. Driving around yesterday in our area was a real shocker. It's amazing to see just how many houses are for sale out there. Unfortunately prices still remain much to high for the "average" wage earner. I really won't be surprised when the foreclosures stats start to make the headlines.

Salt Lake's implosion is playing out like it did in many other areas. A huge drop-off in home sales, confusion about what was really going on accompanied by a slight uptick in prices. The real carnage is yet to come. The third and fourth quarters of this year will be ugly.

Classic marketing ploy, and nicely done by homebuilders in Utah. A way to keep their top lines strong despite less growth is by building larger products (yes that is homes here) and selling them for more.

Perhaps the CONSUMER (yes you) should stop "needing" 3500 sq/ft and 3 or 4!!! car garages.

After living in Colorado, Boston, Chicago and now in Silicon Valley I sometimes drool at the MASSIVE houses Utah has and wonder how it is. Then I remember it is the customer demanding these items because of the strong desire of Utahn's to compete with the Jones'. Ask yourself what you really "need" and what you truly "want" and I think you might find a solution to the housing problem.

I'm looking forward to lower home prices. Then I can actually buy a house rather than renting an apartment.

Quick lesson: I will pay anyone $1 million for their house if I can set the terms. Here's the terms: I will pay you $100 per month for the next 10 thousand months or 833 years. Now terms aren't that crazy, but variable interest, nothing down, no income verification loans. Most people buy houses based on what they can afford for monthly payments. If you start doing sub-prime mortgages you get more people buying who should be renting, and lower payments because less is required to pay down the principal on the loan. A standard 30 year mortage, current rates, $1,000 monthy payment gets a house valued at $170,000. An interest only loan same payment, same rate drives up the value to $206,000. Is the house though actually worth an extra $36,000?

In short: crazy terms give crazy home values.

To "Smaller Houses".

I lived in Silly-Con Valley, grew up on the peninsula. When I was a kid there was over 50 kids on our long cul-de-sac. We played all kinds of games like "Kick the Can", "Hide and Seek" etc.
Now there are TWO.

People were happy to have an average family car and an average house. My mom was from Utah and I loved coming to Utah to the farm, hauling hay, riding horses, walking to the 5 and dime etc.

Utah has CHANGED. The materialism is nauseating. My dad probably has more money than most of the Utahns living in their McMansions, living in his 1200 square foot house.

California has lost much of it's vitality because most young families can't afford to live there. Utah has lost much of what made it a family friendly state as the greed and materialism has run rampant.