Quote:
Originally Posted by wrenegade
How many of those under construction are already sold though? Most likely >90%. Not exactly being "dumped" onto the market.
Single family market is a different story though, especially in the higher price brackets.
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How many are sold to speculators? Those who thought they could flip them for a quick buck? What happens when they can't?
The graph illustrates perfectly a speculative mania. There's no historical precedent or need for that level of construction.