[brudgers]

Real-estate markets are markets. They seek equilibrium. When a building is delivered, supply increases, demand goes down and a new equilibrium is established. Groups of people who would build apartments have the option of moving in to existing apartments without the impedance of land entitlement, large project financing, or construction timelines. Speed to market presents less risk to developers except when everyone else can get to market just as fast. Then the risk that someone else delivers and the market becomes over-supplied comes back.

[minthd]

How can it be that there's a risk of over-supply if times gets short and feedback loops between buyers/contractors/sellers become much faster ?