All I can say is "build them houses" and "build those condos" to all the developers out there. Give us the biggest supply overhang in history so we have lots of choice and you have to compete for the few actual homebuyers there are out here.
I'm not including those speculators as an "actual" homebuyer and I am hearing more and more stories of developments finishing but nobody is moving in. These developments are sold out but up to 50% of the buyers were speculators and are hoping to now flip their presale townhouse or condo - you can see their asking / wishing prices on the MLS. Ironically, these speculators are now competing with the developer in many cases to sell the units in the complexes they are in.
Mohican says - bring on the supply. Use the comments to tell us about your anecdotes of speculators gone wild.
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