With housing prices raising at 18.9% annually, this Havemeyer Lane builder may get bailed out yet.

We’ve been chortling over the spec house at 40 Havemeyer Lane since it hit the market in 2020 at $2.350 million, and that amusement turned to hearty guffaws when the guy jumped the price to $2.920 last November. He’s been taking tiny nibbles off that price since; some as small as $10,000, as though that would persuade a buyer to pay in the high-twos to live on Havemeyer Speedway, and today he’s dropped it to $2.750.

But maybe his stubborn persistence will pay off: Bloomberg’s got an article out entitled “Stagflation is already here in the Housing Market”, and it’s depressing news for homebuyers, including the calculation that nationwide, house prices increased almost 19% last year. But that’s good for incautious contractors with what just a year ago were hopeless dreams. This one may have his project sold by 2026 or so.