It's worse than that with the current interest rates for mortgages and construction loans. The developers can't charge less than cost and their cost has gone up yet a huge portion of the population can't afford it either. So not much gets built because developer is also analyzing who is going to buy from them. Short of rates going down which I don't think will happen, only the state can step in and possibly take over some of the government associated cost. I don't think they will do it however.