There was a really interesting article in the TP a few days ago stating the forclosures of "just built" are becoming more common.  New construction is a problem for the simple fact that the actual costs involved in new construction are higher than the prices of most previously built homes because previously built homes are selling below actual cost due to the glut of unsold homes. Said the TP: "Buying new construction just doesn't add up: the mediam price of a new home in the United States is now 48 percent higher than that of a home being resold, more than three times the gap in a healthy housing market." This means one thing: like the value of a new car driven off the lot, once you occupy your newly constructed home, it will fall in value as it becomes not new, but previouly owned--perhaps to the tune of 48 percent less!  Sad, but true, new construction just makes no financial sense in this market and I see this all too often now when I appraise a home built just a year ago fall substancially in value.