Apparently, homebuilders are cutting jobs and buying less land, while the companies buying land and getting it ready for development are hiring.

Funny how that works.

Builders are slowing down, construction numbers are dropping, and new home approvals are at their lowest point since 2012. About half of builders are planning to buy less land.

Meanwhile, the people who specialize in finding land, getting approvals, and putting projects together are still busy.

Here's the irony: some of the builders cutting their land and development teams today may be the same ones paying a premium to buy approved land from those very people a few years from now.

It's a little like firing your mechanic because you aren't driving much, then wondering why it costs so much to get your car running again.

Land doesn't stop being valuable just because builders stop building. Sometimes the smartest move is knowing when not to pour concrete.

But I suppose that's easier to understand when your business isn't measured one quarter at a time