They can sit there all they want, builders are more than happy to supply the market without competition from existing homes. Of course at some point rates will go down, and flood the market with existing homes, hopefully while the builders keep over producing for a while.
Housing units under construction has been at a 50 year high for a year and a half, with no sign of a slow down, just a shift from single to multi family units.
Like I said, single family construction has slowed, while multi-family construction has more than picked up the slack. We're still at 50 year highs with no significant down turn. Try looking at actual data rather than propaganda pieces in the media.
They can sit there all they want, builders are more than happy to supply the market without competition from existing homes. Of course at some point rates will go down, and flood the market with existing homes, hopefully while the builders keep over producing for a while.
Builders still need to sell with high interest rates so they are also holding back.
Housing units under construction has been at a 50 year high for a year and a half, with no sign of a slow down, just a shift from single to multi family units.
Not true:
https://finance.yahoo.com/news/homebuilders-face-a-tough-balancing-act-on-new-construction-amid-high-mortgage-rates-130744368.html
Like I said, single family construction has slowed, while multi-family construction has more than picked up the slack. We're still at 50 year highs with no significant down turn. Try looking at actual data rather than propaganda pieces in the media.
https://fred.stlouisfed.org/graph/fredgraph.png?g=19jjo