people have been cancelling liek crazy and walking away from deposits...oh no the builders keep the deposit and then drop the price by 10% and sell it to someone else and still keep a huge margin.

Look there are risks here no doubt, but right now every builder has GFC being priced in when it is in every politicians best interest (including Jerome) to keep the housing ponzi going.

Speculators are gonna get blown out coz they need a 6% increase just to break even post fees and what not, but homebuilders keep margins even if speculators lose money. Go thru their income statements, 20% margins broadly, and their costs have been coming down as speculators get iced