something had to give.. for a while there it was cheaper to buy a new house than buy the block and build it. in fact in many places this is still the case but i can see land prices retreating rapidly. in a normal market it is a dog of a product. people thought it was all too easy buying a block and flipping for a quick $100k or so and I think there may be a few tears when people realise just how hard it can be to shift a vacant block. the feedback i am getting is that lowering your asking price isnt helping shift them as they just arent sellling - sets the stage for some deep discounting.
