We saw here that there are home builders trading at huge discounts to their book values. Could some of these offer a chance to buy land at a big discount?

Currently, most home builders are trading well below book value. Could this be a buying opportunity? Here they are, ranked by biggest discount to book:

In this post, we saw that home builders' market values track decently well with their book values. But those were the largest of home builders. Here, we look at Price to Book values for the smallest cap builders.

Morningstar is looking for opportunites in the fear surrounding the non-prime lending industry and other real-estate based companies.

I don't see any particular value quite yet, but I'd be suprised if we don't see some fear induced mispricing in the coming months.