the problem is that almost all builders are in financial distress. who will be able to buy these lands even at lower prices? Who will be willing to Buy these lands and build before they are sure that the housing price is rising again and not sinking?
The lands will be sold at deep discounts, the combination of low land prices, low labor costs (high unemployment among construction workers) and low material costs will enable some new builders to make profits.
This is not the first time there is a crash. True, this crash is bigger than the previous crashes. But, in a free market, no matter how bad things are, there’s always a way to be profitable.
