What is the Developer/s name? in my experience anyone who has tried to build through a recession/ bad times has caught a bad cold, and in this economic climate, they will go bust, unless they have someone with a vast amount of money to fund them.
I agree, the last 2 years have been an absolute torrid time for me (and no I am not a Mortgage Broker) but I was involved in senior management with developers, I say was, because at my age I have no chance of getting back into it, and my personal finances are not good either :(