I've been working with job titles like construction project manager, who doesn't know a lot about construction but coordinates architects, engineers, GCs etc, the VP of RE management, who also does not know a lot about construction but oversees site selection, lease negotiations, property management, RE accounting who writes my checks and does annual CAM audits, and other jobs like that.

Shortages of construction labor and material will also have a major impact upon pricing. 

You can bet on where you think the fed funds rate will be with Fed Funds futures contracts, and right now that market has the fed funds rate all the down to 3% by June 2025.

A few things to note:I had two of my own employees who know construction do the work. 

I've only done 6 new construction builds ( ADU's ) ranging from 500-1200 but all seperate properties.There are also two other 0.48 acre lots (that were never merged together) adjacent to the current large lot of 3-ish acres to make this a total of 8- 0.48 acre lots when/if these do get reverted to their original size. 

Adam I bet dollars to donuts this is not CA property sounds like D class rust belt or mid west.Chicago etc.

If a nurse or construction worker has their contract cancelled, I like to meet in the middle.

Until Fed begins to cut rates I’ve found alternative lenders in some cases to be competitive with banks on construction debt when considering the totality of factors (rate, leverage, depository relationships and pre- payment penalties).

A lot of people shrug off Modular and Manufactured but they are both cash cows and help avoid longer construction times, higher material costs and less permits. 

At the current pace of  construction and costs, development is not keeping up with demand.