I second that idea. I've been involved for 22 years in construction and I too think of the recent past as being "off the charts". While there may be short term problems due to business models having been created (in terms of leveraging) on this level of activity there are also positives that come with this correction.

This is quoted from Brill-Cooper:
Part of the problem is, some sellers "still have the mentality the market is like it was two years ago," Brill-Cooper said, and they expect to see the kind of price for their house their neighbors got when homes were selling fast and furious.
The problem is that when people go to sell their houses or refinance their houses down the road-they're not going to get the value that they need for the deal to work.

I'm not happy about it but yeah, what I said. That goes for the house people bought for an arm and a leg because they were confident they could sell it for two arms and legs. People who bought houses on the terms their grandparents advised are still okay.
Perhaps now people will think more objectively about the things they're being told by realtors and builders. Like if a builder tells you that in HIS houses holes in stud cavities are fire-caulked and they use Flextape on all drywall seams, you'll stop and realize that all houses being built today have that. And most importantly, you'll have learned something about that builder and what he's willing to do for a buck. Like I said, a number of good things will come with the bad.