(Bloomberg) -- Listen to Odd Lots on Apple podcastsListen to Odd Lots on SpotifySubscribe to the newsletterWatch  this episode on YouTubeHomebuilders have experienced major whiplash over the last few years. The pandemic originally caused them to slam the brakes on new development. Then the housing boom happened and they raced to catch up and build — but then they ran into supply-chain constraints. Then in 2022, the interest rate shock put the market into a freeze. But before that building can begin, how do developers find completely unused land and turn it into new homes? Who takes on that risk? Who buys and brokers that land? On this episode of the podcast, we speak with Chase Emmerson, the co-CEO of Emmerson Enterprises, an Arizona-based boutique land investor and brokerage. He explains the process of securing land, getting it permitted for development, obtaining water rights, and more. He also walks us through what he's seeing in the housing market right now.

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