happy belated fourth.
a quick anecdote representing the present hurdles laid in front of those builders sprinting uphill in an attempt to stay afloat. a middle-aged couple i have been helping try to build a cabin goes to a bank, tells them they want to build a 190k cabin in the beautiful rocky mountain west. they own the 3 acres outright and walk into said bank with 40k in hand and the equity of the land on paper. they do the dance and sweat real hard for a few weeks while dumping more money into plans and structural engineering (out-of-pocket) to be told that there is no value in the land and they will have to come up with more than 22% cash to make it happen. no value to the land? not even 1k?
sick and tired