I am not a builder but I can understand why they are in denial. What are they going to do for the next 5 years….sure the hell not going to build much.
Some of the smaller builders should just list a rock bottom prices and get out for a while. Take some of those profits and start a new business or maybe relax for a while.
I know owners that purchased in development a few months to years prior might get angry if builder was to slash prices to min to unload, but most those owners made dumb decisions to buy high anyway.
