[rrss1122]

Property investors aren't the ones building properties. It's the property developers. I read this in an article explaining Miami's development boom, in spite of the possibility that rising sea levels could inundate much of the new construction in the next century. The property developer's only concern is selling the property. Once it's out of their hands, they are no longer exposed to risk on that property. As long as they can continue convincing property investors that the boom will continue, developers will continue building right up till the moment that property values come crashing down.