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Indeed when prices are rising rapidly, people contract to buy spec homes on the theory they can sell at a profit when finished.

Of course the risk is the bubble will break and investors get stuck with expensive homes and mortgages they can't sell at a profit.

This seems to be a games of timing the market. Profitable if you do it right.

I suppose your back up is renting those new homes. The shortages must make for eager renters at least for now.
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