Wow – I guess if you are in the building business – especially as a small developer, you probably have taken all your profits and plowed them back into more projects. These projects are probably going to soak up the profits thus erase the paper money gains from before.
I wonder if the banks who made the construction loans are in trouble….
Where I used to live, Olivenhain, there are 2 brand new mini-developments of 3 houses and 2 houses along Lone Jack Road. I notice that they have come down in price also from the 2M’s to 1.4M’s… And still aren’t selling…
