Tell your son to move to the Carolinas. They’re still building there. And wait a bit in your area. When prices go lower buy a couple of investment houses.
For it is worth, I recently noticed that even the grand old company that invented tract housing back in the 1940s, Levitt & Sons, is now in bankruptcy. I thought that I had read that it was largely from the failure of new construction in the Carolinas, Georgia, and Florida to sell.