Developers largely depend on the public teat. In many cases taxpayers are paying for sewer, water and road extensions.
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Yeah and then you have contractors not getting shit done on time or not showing up and city hoops to jump through. It seems like a crazy stressful life.I can see being a developer being an impossible gig when it’s at a large scale.
Dozens of homes being built at once, all kinds of bills, lots of employees, and contractors all wanting money constantly.
Seems like you have to charge a crap ton to make sure you indeed are making a profit or run the risk of being seriously upside down as soon as the housing market slows in the slightest.
Guess that’s why developers all are richer than rich or belly up.