Quote:
Originally Posted by whatnext
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.
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Wouldn't this hopefully demonstrate a market operating in a healthy way?
Oversupply should lead to a price decrease, this would give some credit to the supply side argument.
I would find it much more worrying if all these units complete over the next 24 months and price don't move down from current levels.
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