Sub-division being built by my house right now. They paid $500k for the land a few years ago. Paid $1.1m this year to get the earthworks done ( underground powe

Sub-division being built by my house right now. They paid $500k for the land a few years ago. Paid $1.1m this year to get the earthworks done ( underground power, water, sewage, irrigation,etc) plus they will pave the street and do curbing. The land was the last expensive part by far, prepping it cost double. There will be 19 lots, however he will not sell any, he will build every home on spec(ulation) and sell them himself. It's purely a profit driven decision and he will make million+, after spending years getting everything aligned and tying up capital. $80-100k in outfit per lot, plus another $100k per house. He will do quite well. However if he sold those lots and more builders were involved, we would have new housing faster. This is true for at least 4 sub divisions being built in my town. Greed/capitalism is creating/exacerbating a housing shortage, everyone wants to maximize profits in a slow moving business, instead of just facilitating the creating of housing as efficient as possible.