I don’t see why local governments are handing out any permits to build new structures when the market is currently saturated with unsold inventory.
If I want to build my dream home on a lot I own, I can. I don’t have to buy the overpriced crap out there on the market.
That's right. In my area one housing development has been struggling-lot's of empty new homes/prices slashed. 3 miles away a new development opened last summer with 3-5 acre mini farms. All 16 lot's are sold except 2(crappy lot's left) and 7-8 homes are built or are being started.