Delays can happen due to material shortages, weather conditions, or scheduling conflicts.

Quote from @Devin James: @Jay Hinrichs Developments are definitely BIG money makers, but thats also reflected with the risk associated.That's why these projects take so much time and capital, but if you make the right judgements for project selection, and do all your due diligence, it'll turn out well. my 90 home project in Oregon  started it as dirt before covid .. got 1st phase built then covid hit.. had to fight through lumber sky rocketing and other material shortages and the of course interest rate spikes.. but the project ( and I give credit to my Wife and my GC's attention to detail) has sold Very well for record prices and profits .. its de risked now 22 lots left 13 are presold with big non refundable deposits and only 9 lots left that have no debt..

Quote from @Noah Bacon: In last nights debate, Vice President Harris emphasized housing affordability, addressing the shortage of homes and proposing a plan to increase housing supply by 3 million units.

I have a hard time believing that vacation rentals are adding to the housing shortage in any meaningful way. 

I work in a market with a severe housing shortage.

So there is a shortage of "affordable" housing because millions of people have come here but millions of D and C class units have not been created.

Because according to them, Austin has a supply shortage. https://www.eventbrite.com/e/how-you-can-achieve-up-to-22-re...https://disclosurequest.com/form/lcp-austin-dev-fund-25-llc/0002022266-24-000001

This is in large part to the crazy housing shortage here.I have had tenants ask about getting paid to leave.  

There is already a massive shortage of affordable housing.

They sent a very professional slide pitch deck that showed all of their justifications around that specific market, e.g. employment market, housing shortage data, the new developments in the area, the air bnb data, etc. etc.They also stated the numbers were conservative (7 year to reach the target returns) and that likely it will be year 4-5.