Think of it as economic Darwinism. Those said “developers” who are willing to watch capital destoyed over time aren’'t going too far. Of course we always see the argument “well, they have loads of money and can afford to wait”. Sure. All that means is that in 10 years they may if they are lucky still have the same net worth as they have today. The “fitter” species of developer will be extract themselves from this chaos, limit their further losses and redeploy their capital somewhere else productive. They will still manage to double their net worth over the next ten years.
